Markets
Stocks dropped across the globe following a big selloff in Asia on concerns that a mysterious coronavirus emanating from China will spread through the region as travel heats up for the Lunar New Year holidays.
In Asia, Japan -0.9%. Hong Kong -2.8%. China -1.4%. India -0.5%.
In Europe, at midday, London -1%. Paris -0.9%. Frankfurt -0.2%.
Futures at 6:20, Dow -0.3%. S&P -0.4%. Nasdaq -0.5%. Crude -1.3% to $57.85. Gold -0.4% to $1554.90. Bitcoin +0.1% to $8642.
Ten-year Treasury Yield -3 bps to 1
Source: Seeking Alpha https://seekingalpha.com/
Economic Calendar
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 3304.00. Average Range for CD1 is 29.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%
CD1 Range High = 3331.00 CD1 Range Low = 3301.00 CD1 Range Avg = 29.00
Bull Scenario: IF Bulls hold bid above 3312, THEN initial upside targets 3317 – 3320 3 Day Central Pivot Zone.
Bear Scenario: IF Bears hold offer below 3312, THEN initial downside targets 3308 – 3304 CD1 Average Decline Zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
HOD ATR Range Projection: 3326.00; LOD ATR Range Projection: 3308.00; 3 Day Central Pivot: 3319.00; 3 Day Cycle Target: 3336.00; 10 Day Average True Range 18.62; VIX: 12.91
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 9108.00. Average Range for CD1 is 105.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 67%
CD1 Range High = 9174.00 CD1 Range Low = 9120.00 CD1 Range Avg = 105.00
Bull Scenario: IF Bulls hold bid above 9127, THEN initial upside targets 9145 – 9156 3 Day Central Pivot Zone.
Bear Scenario: IF Bears hold offer below 9127, THEN initial downside targets 9129 – 9120 CD1 Violation Range Zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
HOD ATR Range Projection: 9184.00; LOD ATR Range Projection: 9110.00; 3 Day Central Pivot: 9150.00; 3 Day Cycle Target: 9188.00; 10 Day Average True Range: 69.19; VIX: 12.91
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