Markets
In Asia, Japan +0.2%. Hong Kong +1.1%. China +2.4%. India +1%.
In Europe, at midday, London +0.4%. Paris flat. Frankfurt +0.6%.
Futures at 6:20, Dow +0.4%. S&P +0.3%. Nasdaq +0.4%. Crude +0.1% to $63.45. Gold -0.4%to $1286.60. Bitcoin -1.4% to $5072.
Ten-year Treasury Yield flat at 2.56%
Source: Seeking Alpha
Economic Calendar
8:55Redbook Chain Store Sales
9:15Industrial Production
10:00NAHB Housing Market Index
2:00 PMFed’s Kaplan Speech
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…Price is higher during over night trade as this Cycle’s Rally is “on-track” with targets measuring 2923 – 2925 up through 2928 handle.
CD2 Range High = 2934.00 CD2 Range Low = 2897.50 CD2 Range Avg = 31.00
Scenario 1: IF Bulls hold bid above 2910.50, THEN initial upside potential targets 2923.50 – 2925.00 CD2 Penetration Zone.
Scenario 2: IF Bears hold offer below 2910.50, THEN initial downside objective targets 2903 – 2900 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
HOD ATR Range Projection: 2928.00; LOD ATR Range Projection: 2903.00; 3 Day Central Pivot: 2902.25; 3 Day Cycle Target: 2928.50; 10 Day Average True Range 18.00; VIX: 12.00
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is higher during over night trade as this Cycle’s Rally is “on-track” with 3 Day Cycle Target 7667 being fulfilled, as well as 7681.50 CD2 Penetration Level.
CD2 Range High = 7705.00 CD2 Range Low = 7629.50 CD2 Range Avg = 56.50
Scenario 1: IF Bulls hold bid above 7651.25, THEN initial upside potential targets 7681.50 CD2 Penetration Level.
Scenario 2: IF Bears hold offer below 7651.25, THEN initial downside objective targets 7638.75 – 7632.75 3 Day Central Pivot Zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
HOD ATR Range Projection: 7706.75; LOD ATR Range Projection: 7628.25; 3 Day Central Pivot: 7635.75; 3 Day Cycle Target: 7667.00; 10 Day Average True Range: 58.00; VIX: 12.00
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.
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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