In Europe, at midday, London +0.1%. Paris -0.3%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude +2.7% to $49.15. Gold +0.3% to $1231.90.
Ten-year Treasury Yield flat at 2.33%
(Source: Seeking Alpha)
Economic Calendar
8:30 Empire State Mfg Survey
10:00 NAHB Housing Market Index
4:00 PM Treasury International Capital
PTG Trading
Weekly Review and Preview can be viewed @ PTG Preview 5.15 – 5.19
Today is Cycle Day 3 (CD3)…Price is currently trading @ 2392 and will either need to convert 2396 to upper support or 2386 to lower resistance. Options Expiration this week with SPY 240 (2400) Strike in-play.
Range Projections and Key Levels
HOD ATR Range Projection: 2398.50; LOD ATR Range Projection: 2384.25; Cycle Day 1 Low: 2387.50; 3 Day Central Pivot: 2389.75; 3 Day Cycle Target: 2404.87; 10 Day Average True Range: 10.30
**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 clears and converts 2396 to upper support, THEN primary target measures 2400, followed by 2403 – 2405 zone.
Scenario 2: IF price violates and converts 2386 to lower resistance, THEN downside measures 2381, followed by 2378 – 76 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.
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