Markets
Wall Street futures are starting a holiday-shortened week ahead by 0.2% on the back of easing geopolitical risks and China’s plans to cut import tariffs for its trading partners.
In Asia, Japan flat. Hong Kong +0.1%. China -1.4%. India -0.1%.
In Europe, at midday, London +0.4%. Paris flat. Frankfurt -0.2%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude -0.1% to $60.37. Gold +0.4% to $1487.40. Bitcoin +3.6% to $7400.
Ten-year Treasury Yield flat at 1.92%
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar
8:30 Chicago Fed National Activity Index
8:30 Durable Goods
8:30 New Home Sales
11:00 Survey of Business Uncertainty
1:00 PM Results of $40B, 2-Year Note Auction
https://www.investing.com/economic-calendar/
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S&P 500
Today is Cycle Day 3 …Price is extending recent gains above prior high fulfilling 3 Day Cycle Objectives in fine fashion as Xmas Holiday week begins.
Options Expiration and Contract Rollover are now history; Traders and money managers will be taking holiday themselves over the final two-weeks of year; So expectation will be for progressively lightening volumes and potentially “spurty” price action.
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 = 3250.00 CD3 Range Low = 3208.00 CD3 Range Avg = 26.50
Scenario 1: IF Bulls hold bid above 3228, THEN initial upside targets 3232 – 3238 zone.
Scenario 2: IF Bears hold offer below 3228, THEN initial downside targets 3224 – 3221 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
HOD ATR Range Projection: 3244.00; LOD ATR Range Projection: 3216.00; Cycle Day 1 Low: 3194.50; 3 Day Central Pivot: 3208.00; 3 Day Cycle Target: 3232.00; 10 Day Average True Range 18.60; VIX: 12.60
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic and 3 Day Cycle Objective.
CD3 Range High = 8767.00 CD3 Range Low = 8682.00 CD3 Range Avg = 92.00
Scenario 1: IF Bulls hold bid above 8719, THEN initial upside potential targets 8735 – 8747 zone.
Scenario 2: IF Bears hold offer below 8719, THEN initial downside targets 8710 – 8695 zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
HOD ATR Range Projection: 8770.00; LOD ATR Range Projection: 8680.00; Cycle Day 1 Low: 8608.75; 3 Day Central Pivot: 8660.00; 3 Day Cycle Target: 8635.00; 10 Day Average True Range: 62.00; VIX: 12.60
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