Markets
U.S. equity index futures are down about 0.3%, while the dollar weakened slightly, following President Trump’s executive order on immigration, which clamped down on refugee admissions and temporarily banned travelers from seven predominantly Muslim countries. “America is a proud nation of immigrants… but we will do so while protecting our own citizens and border,” he said in a statement. “This is not about religion.” Adding to pressure on markets, data on Friday showed U.S. economic growth slowed more than expected in Q4, with GDP rising at a 1.9% annual rate.
In Asia, Japan -0.5%. Hong Kong closed. China closed. India -0.1%.
In Europe, at midday, London -0.7%. Paris -0.9%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude +0.4% to $53.36. Gold +0.1% to $1192.60.
Ten-year Treasury Yield flat at 2.48%
(Source: Seeking Alpha)
Economic Calendar
8:30 Personal Income and Outlays
10:00 Pending Home Sales
10:30 Dallas Fed Manufacturing Survey
PTG Trading
Prior Session (Cycle Day 1) was normal with decline unfolding with 2283 as average decline target. In overnight trade price is currently trading at 2283 in quiet turnover.
Today is Cycle Day 2 (CD2)…Price is searching for a secure low from which to stage next rally…With price below the CD1 Low (2287.00) lower probing for new low may continue. It would take a penetration above 2287 and conversion above 2291.25 (3D CPZ) reverse the current down swing. Lower targets measures 2275 – 2273 zone.
Range Projections and Key Levels
HOD ATR Range Projection: 2293.48; LOD ATR Range Projection: 2273.27; Cycle Day 1 Low: 2287.00; 3 Day Central Pivot: 2291.25; 3 Day Cycle Target: 2306.96; 10 Day Average True Range: 12.48
**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: Bulls need to auction price back above 2287.00 (CD1 Low) to reverse the current down swing. Further conversion above 2291.25 3D CPZ to shift back to bullish momentum.
Scenario 2: Bears need to keep price below 2287.00 (CD1 Low) and continue to force selling down to 2275 – 2273 lower target zone.
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