Trade Strategy 1.10.20

Markets

The Labor Department’s closely watched monthly employment report this morning could buttress the Fed’s assessment that both the economy and monetary policy are in a “good place.” U.S. stock futures are pointing to more records (Dow 29K?) ahead of the data, which is expected to show nonfarm payrolls increasing by 164,000 in December, a near 50-year low unemployment rate of 3.5%, along with modest wage gains.

In Asia, Japan +0.5%. Hong Kong +0.3%. China -0.1%. India +0.4%.
In Europe, at midday, London flat. Paris +0.1%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.4%. Crude -0.2% to $59.46. Gold -0.3% to $1549.30. Bitcoin -1.1% to $7808.
Ten-year Treasury Yield flat at 1.86%

(Source: Seeking Alpha)  https://seekingalpha.com/

Economic Calendar

8:30 Non-farm payrolls
10:00 Wholesale Trade
1:00 PM Baker-Hughes Rig Count

https://www.investing.com/economic-calendar/

*****New PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 3 …Price has fulfilled 3 Day Cycle and exceeded objectives. This sets up a “wildcard” day for today’s session. During overnight trade price has fulfilled 3285 – 3286 CD3 Penetration Target.

Bulls are clearly in control, so it so would take a violation and conversion of PC (3275.25) to stop to upward advance.

As PTG Trade Strategy states: 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.

CD3 Range High = 3296.00          CD3 Range Low = 3266.00          CD3 Range Avg = 21.00

Bull Scenario: IF Bulls hold bid above 3275, THEN initial upside targets 3285 – 3286 CD3 Penetration Zone.

Bear Scenario: IF Bears hold offer below 3275, THEN initial downside targets 3265 – 3262 range zone.

Range Projections and Key Levels (ES) March 2020 (H) Contract

HOD  ATR Range Projection: 3300.00; LOD ATR Range Projection: 3262.50; Cycle Day 1 Low: 3281.00; 3 Day Central Pivot: 3247.00; 3 Day Cycle Target: 3215.00; 10 Day Average True Range 25.00; VIX: 12.50

Nasdaq 100 (NQ)

Today is Cycle Day 3…During overnight trade price has fulfilled 9045.50 – 9054.75 CD3 Penetration Target.

CD3 Range High = 9068.00         CD3 Range Low = 8978.00          CD3 Range Avg = 78.00

Bull Scenario: IF Bulls hold bid above 9008, THEN initial upside potential targets 9045.50 – 9054.75 CD3 Penetration Zone.

Bear Scenario: IF Bears hold offer below 9008, THEN initial downside targets 8995 – 8978 zone.

Range Projections and Key Levels (NQ) March 2020 (H) Contract

HOD  ATR Range Projection: 9102.00; LOD ATR Range Projection: 8961.00; Cycle Day 1 Low: 8678.00; 3 Day Central Pivot: 8903.00; 3 Day Cycle Target: 8802.75; 10 Day Average True Range: 93.67; VIX: 12.50

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


Leave a Reply