(Source: Seeking Alpha)

Economic Calendar 

8:30 Empire State Mfg Survey
10:00 NAHB Housing Market Index
4:00 PM Treasury International Capital
5:00 PM Stanley Fischer speech

PTG Trading

S&P e-mini (ES) ended the shortened holiday weak with selling pressure as geo-political events weighted heavily on investor sentiment. Price is currently trading in a narrow range at the Cycle Day 1 Low 2324.00.

Today is Cycle Day 2 (CD2)…Bears will be looking for a follow-through to the downside…Bulls need a new secure low in place from which to stage next rally attempt.

View this week’s Review + Preview Video here: PTG Preview for 4.17 – 4.21.

Range Projections and Key Levels

HOD  ATR Range Projection: 2339.48; LOD ATR Range Projection: 2310.27; Cycle Day 1 Low: 2324.00; 3 Day Central Pivot: 2341.25; 3 Day Cycle Target: 2342.93; 10 Day Average True Range: 16.73

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

Today’s Hypotheses: June 2017 (M) 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 holds CD1 Low (2324) and converts PC (2327.50) to support, THEN upside relief rally may unfold targeting 2334 – 34 zone, followed by 2340 – 2343.

Scenario 2:  Violation and conversion of CD1 Low (2324) to lower resistance opens door for additional selling initially targeting 2312 – 2310 zone, followed by 2304 Cycle Range Low.

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.

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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