Markets
In Asia, Japan -0.5%. Hong Kong +0.2%. China +0.5%. India +0.1%.
In Europe, at midday, London +0.2%. Paris +0.9%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.1%. Crude +1% to $52.85. Gold +0.1% to $1240.30.
Ten-year Treasury Yield +2 bps to 2.36%
(Source: Seeking Alpha)
Economic Calendar
8:30 Initial Jobless Claims
9:10 Fed’s Bullard: U.S. Monetary and Economic Policy
9:45 Bloomberg Consumer Comfort Index
10:00 Wholesale Trade
10:30 EIA Natural Gas Inventory
1:00 PM Results of $15B, 30-Year Note Auction
1:10 PM Fed’s Evans speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
PTG Trading
Early attempt by bears to force support failed as shorts got “trapped”, as bulls stepped-in and reversed early weakness, driving price to sessions highs by settlement.
Today is Cycle Day 1 (CD1)…Bullish momentum is expected to carry-through before the normally expected decline. Should bulls be able to clear and convert 2294 handle, upside expansion targets will be in-play. NQ has notched new contract highs in overnight trade.
Range Projections and Key Levels
HOD ATR Range Projection: 2300.90; LOD ATR Range Projection: 2283.07; Cycle Day 1 Low: 2283.50; 3 Day Central Pivot: 2288.25; 3 Day Cycle Target: 2309.00; 10 Day Average True Range: 13.18
**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 clears and converts 2294, THEN upside targets 2300, followed by 2310.
Scenario 2: IF price violates and converts 2284, THEN downside targets 2277, followed by 2270.
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.
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