Markets
In Asia, Japan -0.5%. Hong Kong +0.2%. China +0.2%. India +0.8%.
In Europe, at midday, London -0.3%. Paris -0.4%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.2%. Crude -0.7% to $52.94. Gold +0.3% to $1230.50.
Ten-year Treasury Yield -2 bps to 2.47%
(Source: Seeking Alpha)
Economic Calendar
8:30 Gallup US Consumer Spending Measure
10:00 Factory Orders
12:30 PM TD Ameritrade IMX
3:00 PM Fed’s Kashkari speech
PTG Trading
S&P remains in a low volatility rut as 10-day Average True Range is stuck near 13.75…Intra-day trade opportunities are illusive as price has pulled back testing the 2368 breakout level.
Today is Cycle Day 3 (CD3)…Price is currently trading below CD1 Low (2378.00) and will need to trade above to notch a Positive 3 Day Cycle. Bulls still need to shift price above 2382 – 2383 which is now the 3 Day Central Pivot Zone.
Range Projections and Key Levels
HOD ATR Range Projection: 2382.50; LOD ATR Range Projection: 2367.00; Cycle Day 1 Low: 2378.00; 3 Day Central Pivot: 2383.00; 3 Day Cycle Target: 2401.45; 10 Day Average True Range: 13.75
**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 hold above 2368 handle and convert 2378 back to upper support. IF successful, THEN next objective will be to push for 2382 – 2384 zone. Cycle Range High measures 2391.00.
Scenario 2: Bears have an opening if price can remain below 2378..2382 – 84 zone and push for a conversion below 2368 handle. Cycle Range Low measures 2358.48.
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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