Trade Strategy 9.16.19

Markets

The Saudi oil interruption is weighing on equities just as they were getting back into rally mode, with Dow and S&P futures down 0.4% and Nasdaq futures off by 0.6%. It would be the first decline in nine days for the DJIA, which had climbed back to within 1% from a record on Friday.

In Asia, Japan closed. Hong Kong -0.8%. China flat. India -0.7%.
In Europe, at midday, London -0.2%. Paris -0.7%. Frankfurt -0.6%.
Futures at 6:20, Dow -0.4%. S&P -0.4%. Nasdaq -0.6%. Crude +8.2% to $59.37. Gold +0.8% to $1511.90. Bitcoin flat at $10315.
Ten-year Treasury Yield -6 bps to 1.84%

Source: Seeking Alpha https://seekingalpha.com

Economic Calendar

8:30Empire State Mfg Survey

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

***PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 2 (CD2)…Price has violated CD1 Low (3005.75) and found responsive buyers near 5-day Point of Control (POC) and prior 3-day Central Pivot Zone (2982 – 2986). Odds favor price recovering back above CD1 Low for this cycle and as such we’ll be monitoring for evidence when RTH Session opens for business.

*****ANNOUNCEMENT: PTG Trader Tool Box Indicator & Strategy Suite is now available for NinjaTrader 8 trading platform.

*****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 = 3008.00       CD2 Range Low = 2975.00    CD2 Range Avg = 41.50

Scenario 1: IF Bulls hold bid above 2986, THEN initial upside potential targets 3000 – 3006 zone.

Scenario 2: IF Bears hold offer below 2986, THEN initial downside objective targets 2980 – 2975 zone.

Range Projections and Key Levels (ES) December 2019 (Z) Contract

HOD  ATR Range Projection: 3009.00; LOD ATR Range Projection: 2975.00; 3 Day Central Pivot: 3006.00; 3 Day Cycle Target: 3048.00; 10 Day Average True Range 25.43: VIX: 15.16

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price is currently trading below CD1 Low (7904) and has fulfilled lower CD2 Violation Level (7807.75) where buyers have responded aggressively pushing price back to 7850 – 7860 zone 5-day Point of Control (POC). Odds favor recovering back above CD1 Low during this cycle.

CD2 Range High = 7856.75          CD2 Range Low = 7819.25          CD2 Range Avg = 139.00

Scenario 1: IF Bulls hold bid above 7850, THEN initial upside potential targets 7878 – 7904 zone.

Scenario 2: IF Bears hold offer below 7850, THEN initial downside objective targets 7820 – 7808 zone.

Range Projections and Key Levels (NQ) December 2019 (Z) Contract

HOD  ATR Range Projection: 7887.00; LOD ATR Range Projection: 7790.00; 3 Day Central Pivot: 7920.00; 3 Day Cycle Target: 7975.00; 10 Day Average True Range: 89.50; VIX: 15.16

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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