Markets
Wall Street futures are slightly lower, down 0.3%, after ending roughly flat on Wednesday as traders digested a 25 bps rate cut from a divided Federal Reserve. While the “moderate” policy seemed to disappoint markets, Jerome Powell highlighted that “if the economy does turn down, then a more extensive sequence of rate cuts could be appropriate.” U.S. and Chinese deputy trade negotiators are also set to resume face-to-face talks today for the first time in nearly two months, aiming to lay the groundwork for high-level discussions in early October.
In Asia, Japan +0.4%. Hong Kong -1.1%. China +0.5%. India -1.3%.
In Europe, at midday, London +0.5%. Paris +0.5%. Frankfurt +0.2%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude +1.7% to $59.04. Gold -0.8% to $1504.40. Bitcoin -3.2% to $9874.
Ten-year Treasury Yield flat at 1.79%
Source: Seeking Alpha https://seekingalpha.com
Economic Calendar
8:30Initial Jobless Claims
8:30Philly Fed Business Outlook
8:30Current Account
10:00Existing Home Sales
10:00Leading Indicators
10:30EIA Natural Gas Inventory
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
https://www.investing.com/economic-calendar/
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…Price action past few sessions has been very quiet ahead of Fed Policy Announcement yesterday. Once released, ALGO’s whipped price up and down like a “rag-doll” only to have price return to 5-day POC (3000). Now What? Oh yeah>>>Options Expiration Friday.
Lots of real-estate for price to travel around only to go “nowhere-fast”, so stay alert and select only the highest quality formations to trade.
*****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: https://polaristradinggroup.com/ptg-3-day-cycle/
CD2 Range High = 3016.00 CD2 Range Low = 2986.00 CD2 Range Avg = 42.00
Scenario 1: IF Bulls hold bid above 3000, THEN initial upside potential targets 3010 – 3015 zone.
Scenario 2: IF Bears hold offer below 3000, THEN initial downside objective targets 2990 – 2985 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
HOD ATR Range Projection: 3015.00; LOD ATR Range Projection: 3000.00; 3 Day Central Pivot: 3006.00; 3 Day Cycle Target: 3010.00; 10 Day Average True Range 23.10: VIX: 14.22
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price action past few sessions has been very quiet ahead of Fed Policy Announcement yesterday. Once released, ALGO’s whipped price up and down like a “rag-doll” only to have price return to 5-day POC (7875). Now What? Oh yeah>>>Options Expiration Friday.
CD2 Range High = 7912.00 CD2 Range Low = 7866.00 CD2 Range Avg = 141.00
Scenario 1: IF Bulls hold bid above 7875, THEN initial upside potential targets 7910 – 7930 zone.
Scenario 2: IF Bears hold offer below 7875, THEN initial downside objective targets 7866 – 7850 zone.
Range Projections and Key Levels (NQ) December 2019 (Z) Contract
HOD ATR Range Projection: 7936.00; LOD ATR Range Projection: 7843.00; 3 Day Central Pivot: 7882.00; 3 Day Cycle Target: 7990.00; 10 Day Average True Range: 83.25; VIX: 14.22
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.
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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