Markets
Equities posted fresh records on Monday, but closed little changed, as the Trump administration issued a new 90-day extension allowing U.S. companies to continue doing business with China’s Huawei. The next catalyst for stock market movement is the flood of retailer earnings, and U.S. index futures are up about 0.3% before the results. About three-fourths of S&P 500 companies have already topped earnings estimates in their Q3 reports, but they are still expected to have posted an overall 0.5% decline in earnings, according to Refinitiv data.
In Asia, Japan -0.5%. Hong Kong +1.6%. China +0.9%. India +0.5%.
In Europe, at midday, London +1.3%. Paris +0.4%. Frankfurt +1%.
Futures at 6:20, Dow +0.2%. S&P +0.3%. Nasdaq +0.4%. Crude -0.9% to $56.61. Gold -0.3% to $1467.20. Bitcoin -4.2% to $8082.
Ten-year Treasury Yield flat at 1.82%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar
8:30Housing Starts
8:55Redbook Chain Store Sales
9:00Fed’s Williams Speech
10:00Quarterly Services Report (Advance)
10:00E-Commerce Retail Sales
https://www.investing.com/economic-calendar/
*****New PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 3 …Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” notching another All-Time-High. Main trade theme continues to be Long-Side on pullbacks to key support levels. “Always have a proper entry trigger and risk management plan.”
As PTG Trade Strategy states: 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.
CD3 Range High = 3140.00 CD3 Range Low = 3103.00 CD3 Range Avg = 29.00
Scenario 1: IF Bulls hold bid above 3128, THEN initial upside targets 3134 – 3138 zone.
Scenario 2: IF Bears hold offer below 3128, THEN initial downside targets 3124 – 3121 zone.
Range Projections and Key Levels (ES) December (Z) Contract
HOD ATR Range Projection: 3134.00; LOD ATR Range Projection: 3114.00; Cycle Day 1 Low: 3095.75; 3 Day Central Pivot: 3108.00; 3 Day Cycle Target: 3124.50; 10 Day Average True Range 18.28; VIX: 12.29
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” and as trend direction traders, continue to lean to the long-side at key levels.
CD3 Range High = 8377.00 CD3 Range Low = 8320.00 CD3 Range Avg = 104.00
Scenario 1: IF Bulls hold bid above 8367, THEN initial upside potential targets 8377 – 8379 zone.
Scenario 2: IF Bears hold offer below 8367, THEN initial downside targets 8343 – 8334 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 8379.00; LOD ATR Range Projection: 8318.00; Cycle Day 1 Low: 8261.25; 3 Day Central Pivot: 8295.00; 3 Day Cycle Target: 8333.50; 10 Day Average True Range: 61.57; VIX: 12.29
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.
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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