Markets
The December jobs report will be the first major data wrapping up 2016 and the economy’s performance under President Barack Obama. Economists expect 178,000 jobs were added last month following a similar increase in November, while the unemployment rate likely increased slightly to 4.7%. The Labor Department will release the year-end snapshot at 8:30 a.m. ET.
In Asia, Japan -0.3%. Hong Kong +0.2%. China -0.4%. India -0.4%.
In Europe, at midday, London -0.1%. Paris -0.3%. Frankfurt -0.1%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq flat. Crude +0.6% to $54.10. Gold -0.2% to $1178.50.
Ten-year Treasury Yield -1 bps to 2.35%.
(Source: Seeking Alpha)
Economic Calendar
8:30 Non-farm payrolls
8:30 International Trade
10:00 Factory Orders
11:15 Fed’s Evans: Monetary Policy
1:00 PM Baker-Hughes Rig Count
3:30 PM Fed’s Kaplan: Economic Outlook
PTG Trading
Price failed to convert 2264.50 as outlined in prior DTS Briefing 1.5.17 keeping a lid on further upside price advancement. Again this morning, GBX Open (2264.25) acting as a barrier to the upside, as traders await today’s Employment Report.
Today is Cycle Day 1 (CD1)…Normal is for a decline to unfold, with Average Decline targeting 2144 handle. An upside push projects 2275 – 2280 zone.
Range Projections and Key Levels
HOD ATR Range Projection: 2275.35; LOD ATR Range Projection: 2251.40; Cycle Day 1 Low: 2239.50; 3 Day Central Pivot: 2257.75; 3 Day Cycle Target: 2279.21; 10 Day Average True Range: 13.85
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2017 (H) 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 converts 2266 handle to upper support, THEN upside measures 2274 – 2277.25. Upper STATX Zone between 2277.00 – 2281.25.
Scenario 2: Violation and conversion of 2258 “key spot” to lower resistance opens door for CD1 decline targeting 2251, followed by 2246.50 – 2242.26 Lower STATX 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.”
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.
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