Trade Strategy 7.3.19

Markets

Major U.S. exchanges, as well as equity futures and options, will close at 1 p.m. ET and will remain closed tomorrow for the Fourth of July holiday. Commodity markets will stay open a bit longer, until 5 p.m. today, while markets for government bonds and other fixed-income securities will close at 2 p.m. Things will be back to normal on Friday, even though staffing and trading are expected to be light.

In Asia, Japan -0.5%. Hong Kong -0.1%. China -0.8%. India +0.1%. 
In Europe, at midday, London +0.8%. Paris +0.7%. Frankfurt +0.8%. 
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.4%. Crude +0.8% to $56.69. Gold +1.5% to $1428.70. Bitcoin +12% to $11369. 
Ten-year Treasury Yield -3 bps to 1.95%

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

Economic Calendar

http://mam.econoday.com/

7:00MBA Mortgage Applications
7:30Challenger Job-Cut Report
8:15ADP Jobs Report
8:30International Trade
8:30Initial Jobless Claims
9:45PMI Services Index
10:00ISM Non-Manufacturing Index
10:00Factory Orders
10:30EIA Petroleum Inventories
12:00 PMEIA Natural Gas Inventory

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

S&P 500

Today is Cycle Day 3 …Price pushed higher in prior session and during overnight trade to notch new All-Time Highs in the S&P 500 Index and fulfilling Positive 3 Day Cycle Target Objectives. Further upside objectives target 2993 – 2998 zone.

CD3 Range High = 2998.00          CD3 Range Low = 2956.00          CD3 Range Avg = 33.00

Scenario 1: IF Bulls hold bid above 2980, THEN upside targets 2985 – 2990 zone.

Scenario 2: IF Bears hold offer below 2980, THEN downside targets 2975 – 2970 zone.

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

HOD  ATR Range Projection: 2998.00; LOD ATR Range Projection: 2965.00; Cycle Day 1 Low: 2955.50; 3 Day Central Pivot: 2962.00; 3 Day Cycle Target: 2985.00; 10 Day Average True Range 23.33; VIX: 13.07

Nasdaq 100 (NQ)

Today is Cycle Day 3… Price is grinding higher in overnight trade fulfilling Positive 3 Day Rally Statistic.

CD3 Range High = 7882.00         CD3 Range Low = 7814.00          CD3 Range Avg = 110.00

Scenario 1: IF Bulls hold bid above 7840, THEN upside potential targets 7865 – 7880 CD3 Penetration Zone. zone.

Scenario 2: IF Bears hold offer below 7840, THEN downside targets 7830 – 7815 Pivot Zone.

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

HOD  ATR Range Projection: 7912.00; LOD ATR Range Projection: 7785.00; Cycle Day 1 Low: 7759.00; 3 Day Central Pivot: 7773.00; 3 Day Cycle Target: 7828.00; 10 Day Average True Range: 87.02; VIX: 13.07

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