Markets
Global equities were higher at the time of writing as a weakening dollar helped strengthen oil prices, thereby boosting global sentiment, and ahead of U.S. CPI data this morning. Inflation is expected to have risen to 1.5% on year in September from 1.1% in August. The figures will come after Fed Vice-Chair Stanley Fischer said yesterday that the central bank is “very close” to its targets of full U.S. employment and 2% inflation. Fischer also expressed concerns about low interest rates.
In Asia, Japan +0.4% to 16964. Hong Kong +1.55% to 23394. China +1.3%to 9758.4. India +1.9% to 28051.
In Europe, at midday, London +1%. Paris +1.1%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.4%. S&P +0.5%. Nasdaq +0.6%. Crude +1.1% to $54.49. Gold +0.5% to $1263.3.
Ten-year Treasury Yield -1 bps to 1.76%.
(Source: Seeking Alpha)
Economic Calendar
8:30 Consumer Price Index
8:55 Redbook Chain Store Sales
10:00 NAHB Housing Market Index
4:00 PM Treasury International Capital
PTG Trading
Low volume narrow range with higher low has setup a “rally spring” which has vaulted price higher in overnight trade to 2136.00 Average 3 Day Cycle Rally Target.
Today is Cycle Day 2 (CD2)…With a secure low and higher low in place the rally has now begun initially targeting 2136 handle with 2143 and secondary target.
Range Projections and Key Levels
HOD Range Projection: 2139.50; LOD Range Projection: 2116.50; Cycle Day 1 Low: 2116.75; 3 Day Central Pivot: 2125.00; 3 Day Cycle Target: 2136.00; 10 Day Average True Range: 19.15
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September (Z) 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 clears and converts PH (2130), THEN initial objective measure 2136, followed by 2139.50 – 2144.25 STATX Zone.
Scenario 2: IF price violates CD1 Low (2116.75), THEN lower target measures 2106.25 CD2 Maximum Violation Level.
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