In Asia, Japan +0.1%. Hong Kong -0.8%. China -0.2%. India flat.
In Europe, at midday, London -0.3%. Paris -0.5%. Frankfurt -1.3%.
Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -0.6%. Crude +0.7% to $58.07. Gold -0.7% to $1390.60. Bitcoin +3.2% to $12356.
Ten-year Treasury Yield +3 bps to 2.06%
Source: Seeking Alpha https://seekingalpha.com/
6:00NFIB Small Business Optimism Index
8:45Jerome Powell: “Stress Testing: A Discussion and Review”
8:55Redbook Chain Store Sales
10:00Job Openings and Labor Turnover Survey
10:00Fed’s Bullard Speech
1:00 PMResults of $38B, 3-Year Note Auction
1:00 PMFed’s Bostic: Monetary Policy
2:00 PMFed’s Quarles: “Stress Testing: A Discussion and Review”
***New: PTG Trading Room Chat Log’s Link
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2962.00. Average Range for CD1 is 33.25 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 43%
CD1 Range High = 2987.00 CD1 Range Low = 2956.00 CD1 Range Avg = 33.25
Scenario 1: IF Bulls hold bid above 2967, THEN initial upside targets 2977 – 2982 zone.
Scenario 2: IF Bears hold offer below 2967, THEN initial downside targets 2960 – 2958 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7653.00 (FULFILLED). Average Range for CD1 is 120.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 66%
CD1 Range High =7799.00 CD1 Range Low = 7750.00 CD1 Range Avg = 120.00
Scenario 1: IF Bulls hold bid above 7755, THEN initial upside targets 7788 – 7800 zone.
Scenario 2: IF Bears hold offer below 7755, THEN initial downside targets 7726 – 7715 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
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!
“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.
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