In Europe, at midday, London -0.4%. Paris -0.3%. Frankfurt -0.3%.
Futures at 6:20, Dow +0.06%. S&P -0.04%. Nasdaq -0.15%. Crude +2.8% to $49.30. Gold +0.5% to $1,292.30. Bitcoin +5.2% to $4,103.
Ten-year Treasury Yield -1.4 bps to 2.645%
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
12:30 PM TD Ameritrade IMX
12:40 PM Fed’s Bostic: Economic Outlook and Monetary Policy
*****New PTG Trading Room Chat Log’s Link Click this link to view:
S&P 500
Today is Cycle Day 3 (CD3)…Current Cycle Target objectives have been fulfilled, and as such could make for a mixed session as trading desks are back to full staff..Yes the Robots are baaack from their holiday software upgrades. Faster and Stronger!
Price extended to 2548 CD3 Penetration Level and has since pulled back during overnight trade. We’ll mark 2548 – 50 zone as “key resistance” to begin today’s session. Initial support marked between 2518 – 2522 LVN.
CD3 Range High = 2546.50 CD3 Range Low = 2528.50 CD3 Range Avg = 59.00
Scenario 1: IF price holds bid above 2520, THEN initial upside targets 2536 – 2540 zone.
Scenario 2: IF price holds offer below 2520, THEN initial downside targets 2512 – 2500 Central Pivot.
Range Projections and Key Levels (ES) March (H) Contract
HOD ATR Range Projection: 2594.25; LOD ATR Range Projection: 2480.75; Cycle Day 1 Low: 2443.25; 3 Day Central Pivot: 2484.25; 3 Day Cycle Target: 2527.00; 10 Day Average True Range 71.00; VIX: 22.50
Nasdaq 100 (NQ)
Today is Cycle Day 3 …Current Cycle Target objectives have been fulfilled, and as such could make for a mixed session as trading desks are back to full staff..Yes the Robots are baaack from their holiday software upgrades. Faster and Stronger!
Price extended to 6483 CD3 Penetration Level and has since pulled back during overnight trade. We’ll mark 6483 – 6496 zone as “key resistance” to begin today’s session. Initial support marked between 6405 – 6388 LVN Zones.
CD3 Range High = 6458.00 CD3 Range Low = 6298.00 CD3 Range Avg = 197.00
Scenario 1: IF price holds bid above 6400, THEN initial upside targets 6435 – 6455 zone.
Scenario 2: IF price holds offer below 6400, THEN initial downside targets 6388 – 6344 Central Pivot.
Range Projections and Key Levels (NQ) March (H) Contract
HOD ATR Range Projection: 6627.50; LOD ATR Range Projection: 6270.50; Cycle Day 1 Low: 6148.50; 3 Day Central Pivot: 6275.00; 3 Day Cycle Target: 6434.00; 10 Day Average True Range: 225.00; VIX: 22.50
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