Markets
The Dow this session is looking to surpass an intraday record high of 27,398.68, while the S&P 500 is closing in on its previous record of 3,027.98, as the rally continues with stock index futures ahead by 0.3%. Leading the rise is a new round of bond-buying at the ECB, positive developments on the U.S.-China trade front and a tame inflation reading yesterday morning that cleared the way for a Fed rate cut next week. U.S. Treasury bond yields are also extending their seemingly relentless advance, topping the 1.8% mark in early European trading to reach their highest level since late July.
In Asia, Japan +1.1%. Hong Kong +1%. China +0.8%. India +0.8%.
In Europe, at midday, London -0.1%. Paris +0.4%. Frankfurt +0.4%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.3%. Crude -0.6% to $54.76. Gold -0.5% to $1514.50. Bitcoin +1.8% to $10321.
Ten-year Treasury Yield +1 bps to 1.8%
Source: Seeking Alpha https://seekingalpha.com/
Economic Calendar
8:30Retail Sales
8:30Import/Export Prices
10:00Business Inventories
10:00Consumer Sentiment
1:00 PMBaker-Hughes Rig Count
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2980.00. Average Range for CD1 is 37.50 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%
CD1 Range High = 3034.25 CD1 Range Low = 3000.00 CD1 Range Avg = 37.50
Scenario 1: IF Bulls hold bid above 3017, THEN initial upside targets 3027 – 3031 zone.
Scenario 2: IF Bears hold offer below 3017, THEN initial downside targets 3008.50 – 3005 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
HOD ATR Range Projection: 3038.00; LOD ATR Range Projection: 2996.00; 3 Day Central Pivot: 2993.00; 3 Day Cycle Target: 3038.50; 10 Day Average True Range 27.75; VIX: 13.81
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7837.00. Average Range for CD1 is 125.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 66%
CD1 Range High =7973.75 CD1 Range Low = 7900.00 CD1 Range Avg = 125.00
Scenario 1: IF Bulls hold bid above 7938, THEN initial upside targets 7958.50 – 7973.75 zone.
Scenario 2: IF Bears hold offer below 7938, THEN initial downside targets 7916.25 – 7911.50 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
HOD ATR Range Projection: 8015.50; LOD ATR Range Projection: 7859.25; 3 Day Central Pivot: 7865.25; 3 Day Cycle Target: 7987.75; 10 Day Average True Range: 99.35 VIX: 13.81
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