Markets
Saudi Arabia has raised $17.5B in the largest ever bond sale by an emerging-market country as it looks to reduce its $97B budget deficit. The government could have raised even more, with Bloomberg reporting that it received orders of $67B. The debt issue is part of Saudi Arabia’s plan to open up its $650B economy and lower its massive reliance on oil.
In Asia, Japan +1.4% to 17236. Hong Kong +0.3% to 23374. China +0.1%to 9760. India +0.5% to 28130.
In Europe, at midday, London flat. Paris +0.3%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.1%. Nasdaq +0.1%. Crude -1% to $51.32. Gold flat at $1270.25.
Ten-year Treasury Yield flat at 1.76%.
(Source: Seeking Alpha)
Economic Calendar
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:00 Existing Home Sales
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
PTG Trading
Today is Cycle Day 1 (CD1)…Normal is for a decline to develop…Price pushed marginally higher in overnight trade and has been rejected at 2144 STATX Zone currently trading below PH (2142.50). Average Decline if fully develops measures 2120 handle. Bulls remain in control above 2134.50 – 2135.75 Central Pivot Zone. Violation and conversion of this zone to resistance increase probabilities of lower prices.
Range Projections and Key Levels
HOD Range Projection: 2154.50; LOD Range Projection: 2126.25; Cycle Day 1 Low: 2116.75; 3 Day Central Pivot: 2129.75; 3 Day Cycle Target: 2138.00; 10 Day Average True Range: 18.35
**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 (2142.50), THEN upside expansion measures 2150 – 2154 zone.
Scenario 2: Initial Sign of Weakness (SOW) would be violation and conversion of 2135.75 CPZ to resistance. IF this occurs, THEN lower levels measure 2129.75 3D CPZ, followed by 2126.25 LOD ATR Range Projection.
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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