(Source: Seeking Alpha)

Economic Calendar 

8:30 Housing Starts
8:55 Redbook Chain Store Sales
9:15 Industrial Production
10:00 E-Commerce Retail Sales

PTG Trading

Weekly Review and Preview can be viewed @ PTG Preview 5.15 – 5.19

S&P e-mini (ES) had a solid session as price fulfilled Scenario 1 of prior DTS Briefing 5.15.17. Overnight trade has price trading in narrow range between 2396 – 2400.

****Correction: Yesterday was Cycle Day 1 as it was mislabeled as Cycle Day 3.

Today is Cycle Day 2 (CD2)…Expectation is for price to hold above 2396 handle and work its way to retest prior high 2402.25. Should price firmly stay above 2400, upside is open to 2407 range projection with higher levels measuring 2410 – 2414 zone.

Range Projections and Key Levels

HOD  ATR Range Projection: 2407.00; LOD ATR Range Projection: 2389.75; Cycle Day 1 Low: 2388.00; 3 Day Central Pivot: 2391.00; 3 Day Cycle Target: 2404.00; 10 Day Average True Range: 10.65

**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 2396 and subsequently converts 2400 to new support, THEN retest of 2402.25 would be expected. Should price break above there are plenty of layered “buy-stops” that could add additional buying fuel to lift prices ever higher.

Scenario 2:  IF price violates and converts 2396 to lower resistance, THEN bears have an opening to push for 2392 – 2388 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.”

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