Trade Strategy 9.9.19

Markets

Heightened expectations of central bank stimulus are pointing to a positive open for Wall Street, with U.S. stock index futures starting the week up 0.2%. U.S. jobs growth slowed more than expected in August, while Jerome Powell reiterated that the Fed will continue to “act as appropriate” to sustain the U.S. economic expansion.

In Asia, Japan +0.6%. Hong Kong flat. China +0.8%. India +0.5%.
In Europe, at midday, London -0.4%. Paris flat. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +1% to $57.09. Gold +0.2% to $1517.80. Bitcoin -2.8% to $10230.
Ten-year Treasury Yield +5 bps to 1.6%

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

Economic Calendar 

12:30 PMTD Ameritrade IMX
3:00 PMConsumer Credit

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

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

S&P 500

Today is Cycle Day 3 …Price is trading 2988.50 fulfilling this cycle’s objective as bulls remain in firm control to begin this week’s trading. Further upside cycle targets measure 2992 – 3005.

CD3 Range High = 3004.00          CD3 Range Low = 2967.00          CD3 Range Avg = 38.50

Scenario 1: IF Bulls hold bid above 2983, THEN initial upside targets 2992 – 2998 zone.

Scenario 2: IF Bears hold offer below 2983, THEN initial downside targets 2978 – 2970 zone.

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

HOD  ATR Range Projection: 3014.00; LOD ATR Range Projection: 2956.00; Cycle Day 1 Low: 2936.50; 3 Day Central Pivot: 2957.00; 3 Day Cycle Target: 2988.50; 10 Day Average True Range 34.00; VIX: 15.00

Nasdaq 100 (NQ)

Today is Cycle Day 3…Price has firm bid during overnight trade holding above prior settlement. Further upside potential measures 7897 – 7912 zone.

CD3 Range High = 7912.00         CD3 Range Low = 7828.00          CD3 Range Avg = 135.00

Scenario 1: IF Bulls hold bid above 7865, THEN initial upside potential targets 7887 – 7896 zone.

Scenario 2: IF Bears hold offer below 7865, THEN initial downside targets 7853 – 7838 zone.

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

HOD  ATR Range Projection: 7965.00; LOD ATR Range Projection: 7775.00; Cycle Day 1 Low: 7717.25; 3 Day Central Pivot: 7790.00; 3 Day Cycle Target: 7897.00; 10 Day Average True Range: 111.50; VIX: 15.00

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