Trade Strategy 7.16.19

Markets

Futures pause before earnings

Wall Street inched up to notch a fresh record close on Monday, but stock index futures are now in wait-and-see mode as earnings season gets underway in earnest. Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC) and Charles Schwab (NYSE:SCHW) will report Q2 results before the bell, along with other big names such as Johnson & Johnson (NYSE:JNJ) and Domino’s Pizza (NYSE:DPZ). Citigroup (NYSE:C) kicked off the festivities yesterday with a mixed quarterly report as the bank revealed better-than-expected profits, but also a decline in its net interest margin.

In Asia, Japan -0.7%. Hong Kong +0.2%. China -0.2%. India +0.6%. 
In Europe, at midday, London +0.4%. Paris +0.2%. Frankfurt -0.1%. 
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude flat at $59.58. Gold +0.2% to $1416.80. Bitcoin +3.7% to $10708. 
Ten-year Treasury Yield flat at 2.1%

(Source: Seeking Alpha)  https://seekingalpha.com/

Economic Calendar

http://mam.econoday.com/

8:15Fed’s Bowman Speech
8:15Fed’s Bostic Speech
8:30Retail Sales
8:30Fed’s Bowman: “Full Employment in Your Community”
8:30Import/Export Prices
8:55Redbook Chain Store Sales
9:15Industrial Production
9:20Fed’s Bostic: “Monetary Policy and the Economy: Beyond the Headlines”
10:00Business Inventories
10:00NAHB Housing Market Index
10:05Fed’s Bostic Speech
12:20 PMFed’s Kaplan Speech
1:00 PMJerome Powell: “Aspects of Monetary Policy in the Post-Crisis Era”
3:30 PMFed’s Evans Speech
4:00 PMTreasury International Capital

*****New PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 3 …Bullish Trends, All-Time Highs, Low Volatility, Low Volumes and throw in Hot Summer Doldrums create a challenging trading environment for the intra-day short-term trader.

We have been here before and as is said: “This Too Shall Pass” This is a good time for traders to practice “Emotional Regulation” and Focus on a part of your trading that needs attention via “Deliberate Practice”. PTG Member’s Educational Media Area has plenty of videos that can stimulate the mind and expand your Knowledge Base.

CD3 Range High = 3040.00          CD3 Range Low = 2997.00          CD3 Range Avg = 32.50

Scenario 1: IF Bulls hold bid above 3017, THEN upside targets 3023 – 3027 zone.

Scenario 2: IF Bears hold offer below 3017, THEN downside targets 3012 – 3007 zone.

Range Projections and Key Levels (ES) September (U) Contract

HOD  ATR Range Projection: 3033.00; LOD ATR Range Projection: 3003.00; Cycle Day 1 Low: 3002.25; 3 Day Central Pivot: 3010.00; 3 Day Cycle Target: 3030.00; 10 Day Average True Range 17.46; VIX: 12.60

Nasdaq 100 (NQ)

Today is Cycle Day 3…Price has fulfilled Positive 3 Day Rally Statistic and currently sitting near All-Time Highs. Key Support Zone is marked between 7960 – 7972 zone.

CD3 Range High = 8039.00         CD3 Range Low = 7944.00          CD3 Range Avg = 112.50

Scenario 1: IF Bulls hold bid above 7984, THEN upside potential targets 8015 – 8025 zone..

Scenario 2: IF Bears hold offer below 7984, THEN downside targets 7972 – 7960 zone.

Range Projections and Key Levels (NQ) September (U) Contract

HOD  ATR Range Projection: 8048.00; LOD ATR Range Projection: 7934.00; Cycle Day 1 Low: 7911.75; 3 Day Central Pivot: 7948.00; 3 Day Cycle Target: 7981.00; 10 Day Average True Range: 67.11; VIX: 12.60

Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.

Stay Focused…Non-Biased…Disciplined  ALWAYS USE STOPS!

Good Trading…David

“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee

*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN


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