Markets
In Asia, Japan +2.6%. Hong Kong +0.1%. China +0.7%. India -0.7%.
In Europe, at midday, London +0.4%. Paris +1.2%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.8%. S&P +0.7%. Nasdaq +0.9%. Crude +1.8% to $53.33. Gold +0.4%to $1316.90. Bitcoin -0.5% to $3568.
Ten-year Treasury Yield +2 bps to 2.68%
Source: Seeking Alpha
Economic Calendar
6:00 NFIB Small Business Optimism Index
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
12:45 PM Jerome Powell Speech
5:30 PM Fed’s George: “Charting America’s Economic Course”
6:30 PM Fed’s Mester: Monetary Policy and Economic Outlook
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…As we have stated time and again; “Market price auctions move from expansion to contraction, back to expansion…etc. Wash, Rinse, Repeat” Prior session was a CD1 as price consolidated (contracted) within a well balanced zone.
In overnight trade price is back to expanding this cycle’s bull-trend higher fulfilling 2728.17 3 Day Rally Target and 2729.50 CD2 Range High Projection.
CD1 Range High = 2729.50 CD1 Range Low = 2706.50 CD1 Range Avg = 24.00
Scenario 1: IF price holds bid above 2721.50, THEN initial upside potential targets 2728 – 2730 zone.
Scenario 2: IF price holds offer below 2721.50, THEN initial downside objective targets 2711.00 – 2719 Central Pivot Zone.
Range Projections and Key Levels (ES) March 2019 (H) Contract
HOD ATR Range Projection: 2732.00; LOD ATR Range Projection: 2703.50; 3 Day Central Pivot: 2705.00; 3 Day Cycle Target: 2728.17; 10 Day Average True Range 26.65; VIX: 15.00
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…As we have stated time and again; “Market price auctions move from expansion to contraction, back to expansion…etc. Wash, Rinse, Repeat” Prior session was a CD1 as price consolidated (contracted) within a well balanced zone.
In overnight trade price is back to expanding this cycle’s bull-trend higher fulfilling 6933.44 3 Day Rally Target and 6959.25 CD2 Range High Projection.
CD1 Range High = 6959.25 CD1 Range Low = 6923.50 CD1 Range Avg = 56.25
Scenario 1: IF price holds bid above 6925, THEN initial upside objective targets 6963.50 3 Day Cycle Target
Scenario 2: IF price holds offer below 6925, THEN initial downside objective targets 6914 – 6896.25 CD1 Low Zone.
Range Projections and Key Levels (NQ) March 2019 (H) Contract
HOD ATR Range Projection: 6999.00; LOD ATR Range Projection: 6884.00; 3 Day Central Pivot: 6913.50; 3 Day Cycle Target: 6963.44; 10 Day Average True Range: 96.00; VIX: 15.00
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.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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