Trade Strategy 8.29.19

Markets

U.S. stock index futures are continuing a pre-Labor Day rally, with the DJIA up by 228 points, as China indicated it wouldn’t immediately retaliate against the latest U.S. tariff increases set for Sept. 1.

In Asia, Japan -0.1%. Hong Kong +0.3%. China -0.1%. India -1%. 
In Europe, at midday, London +1.2%. Paris +1.5%. Frankfurt +1.2%. 
Futures at 6:20, Dow +0.9%. S&P +0.8%. Nasdaq +1.1%. Crude +0.6% to $56.06. Gold -0.2%to $1546.10. Bitcoin -6.6% to $9473. 
Ten-year Treasury Yield +3 bps to 1.47%

Source: Seeking Alpha https://seekingalpha.com

Economic Calendar https://www.investing.com/economic-calendar/

8:30Initial Jobless Claims
8:30GDP Q2
8:30International Trade in Goods
8:30Retail Inventories (Advance)
8:30Wholesale Inventories (Advance)
8:30Corporate profits
10:00Pending Home Sales
10:30EIA Natural Gas Inventory
1:00 PMResults of $32B, 7-Year Note Auction
4:30 PMMoney Supply
4:30 PMFed Balance Sheet

***PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 2 (CD2)…Prior Session was a  Cycle Day 1 and the Low was put in-place first. As such, this cycle’s rally began in earnest with price closing in upper portion of session’s range. This set the bullish scenario for additional gains rolling into Globex Session and today’s Cycle Day 2 Session.

Quiet NKD/SSE Sessions lead to an explosive EUR open rally which has carried price to ATR (10) Range Levels.

*****The 3 Day Cycle Spreadsheet which subscribers receive shortly after market close for next trading session contains all the projected range targets. Here is link to web page to learn more: http://polaristradinggroup.com/ptg-3-day-cycle/

CD2 Range High = 2915       CD2 Range Low = 2895    CD2 Range Avg = 40.50

Scenario 1: IF Bulls hold bid above 2908, THEN initial upside potential targets 2915 – 2920 zone.

Scenario 2: IF Bears hold offer below 2908, THEN initial downside objective targets 2905 – 2900 zone.

Range Projections and Key Levels (ES) September 2019 (U) Contract

HOD  ATR Range Projection: 2920.00; LOD ATR Range Projection: 2875.00; 3 Day Central Pivot: 2870; 3 Day Cycle Target: 2880.00; 10 Day Average True Range 45.00: VIX: 18.36

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price has rallied during overnight trade fulfilling 7685 3 Day Cycle Target.

CD2 Range High = 7685          CD2 Range Low = 7645          CD2 Range Avg = 136.00

Scenario 1: IF Bulls hold bid above 7665, THEN initial upside potential targets 7685 – 7695 Cycle Target Zone.

Scenario 2: IF Bears hold offer below 7665, THEN initial downside objective targets 7630 – 7620 zone.

Range Projections and Key Levels (NQ) September 2019 (U) Contract

HOD  ATR Range Projection: 7684.00; LOD ATR Range Projection: 7568.00; 3 Day Central Pivot: 7557.00; 3 Day Cycle Target: 7685.00; 10 Day Average True Range: 135.00; VIX: 18.36

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


Leave a Reply