Markets
U.S. stock index futures are pointing to a higher open on Wall Street as the FOMC begins its two-day meeting on interest rate policy. It’s near certain the Fed will inaugurate the Trump era with a rate hike and its economic forecast will provide a first glimpse into whether the U.S. election has reshaped the central bank’s growth and inflation outlook. Will the recent stock rally and jump in bond yields increase the projected pace of rate increases for 2017 and beyond?
In Asia, Japan +0.5%. Hong Kong +0.1%. China +0.1%. India +0.7%.
In Europe, at midday, London +0.4%. Paris +0.6%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.3%. Crude +0.8% to $53.24. Gold -0.5% to $1159.90.
Ten-year Treasury Yield -2 to 2.47%.
Economic Calendar
FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
1:00 PM Results of $12B, 30-Year Note Auction
PTG Trading
“Running of the Bulls 2016” (Part II) does not take place in Pamplona, Spain but rather on Wall Street, as Bears apparently have started their winter hibernation early this year.
Today is Cycle Day 3 (CD3)…Bulls continue to have firm control with buy evidence of selling absorption daily, as well as, Market On Close Buy Imbalances $1.1B yesterday. Potential exists today to reach 2265.18 3-Day Cycle Target. Key support is now marked at 2248 handle.
Range Projections and Key Levels
HOD ATR Range Projection: 2263.35; LOD ATR Range Projection: 2242.40; Cycle Day 1 Low: 2239.75; 3 Day Central Pivot: 2247.75; 3 Day Cycle Target: 2265.18; 10 Day Average True Range: 15.60
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2017 (H) Contract
*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.
Scenario 1: IF price converts 2256 handle to upper support, THEN upside potential measures 2263 – 2266 STATX Zone.
Scenario 2: IF price violates and converts 2248 to lower resistance, THEN initial downside targets 2242.40, followed by 2235.63 – 2232.73 extremes.
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