Markets
In Europe, stocks have started the day off in negative territory, with the Stoxx 600 Index posting a 1.1% drop at midday. U.S. stock futures are pointing lower. The yield on the benchmark 10-year Treasury note was down to 0.67% and the yield on the 30-year bond fell to 1.435% at last check.
Source: https://www.investing.com/indices/indices-cfds
Source: SeekingAlpha.com
Economic Calendar
8:30 International Trade in Goods
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
8:30 Personal Income and Outlays
9:45 Chicago PMI
10:00 Consumer Sentiment
11:00 Jerome Powell Speech
1:00 PM Baker-Hughes Rig Count
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Optimistic bullish sentiment sent prices higher during morning session, but gains quickly faded as aggressive sellers pummeled price lower on yet another “Range-Runner” Day Type.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price has fulfilled cycle objectives, notching a Positive 3 Day Cycle Statistic. Being end of week / month, we’ll mark today as a “wild-card” day, meaning that either direction can be “in-play”. Buyers have responded within the 3 Day Central Pivot Zone (3015 – 3020), so we will mark this as “Key Support Zone.”
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3051 PVA Low Edge = 3030 Prior POC = 3037
Bull Scenario: IF Bulls hold bid above 3025, THEN initial upside estimate targets 3037 – 3040 zone.
Bear Scenario: IF Bears hold offer below 3025, THEN initial downside estimate targets 3020 – 3015 zone.
Range Projections and Key Levels (ES) June 2020 (M) Contract
HOD ATR Range Projection: 3051; LOD ATR Range Projection: 2998; 3 Day Central Pivot: 3018; 3 Day Cycle Target: 2996; 10 Day Average True Range 53; VIX: 29.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has fulfilled Positive 3 Day Cycle Statistic and is currently trading mid prior day range within 3 Day Central Pivot Zone. We’ll mark today as a “wild-card” day, meaning that either direction can be “in-play”.
PVA High Edge = 9500 PVA Low Edge = 9366 Prior POC = 9465
Bull Scenario: IF Bulls hold bid above 9430, THEN initial upside estimate targets 9465 – 9500 zone.
Bear Scenario: IF Bears hold offer below 9430, THEN initial downside estimate targets 9405 – 9366 zone.
Range Projections and Key Levels (NQ) June 2020 (M) Contract
HOD ATR Range Projection: 9550; LOD ATR Range Projection: 9294; 3 Day Central Pivot: 9428; 3 Day Cycle Target: 9253; 10 Day Average True Range: 204; VIX: 29.00
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