There wasn’t much movement for U.S. stock index futures overnight as traders held their breath after pushing the S&P 500 index to a closing high of 3,039.42 on Monday. The rise was propelled by expectations of a third consecutive rate cut from the Federal Reserve, which has started a program to purchase $60B/month in Treasury bills until the end of 2019 and took the extraordinary action to shore up overnight liquidity starting in September.
In Asia, Japan +0.5%. Hong Kong -0.4%. China -0.9%. India +1.5%.
In Europe, at midday, London -0.5%. Paris -0.2%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq +0.1%. Crude -0.7% to $55.42. Gold flat at $1495.60. Bitcoin unchanged at $9401.
Ten-year Treasury Yield -3 bps to 1.82%
(Source: Seeking Alpha) https://seekingalpha.com/
Today is Cycle Day 3 …Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” and as trend direction traders, continue to lean to the long-side at key levels.
As PTG Trade Strategy states: 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.
CD3 Range High = 3070.50 CD3 Range Low = 3000.00 CD3 Range Avg = 40.00
Scenario 1: IF Bulls hold bid above 3037, THEN initial upside targets 3043 – 3047 zone. CD3 penetration extension target zone measures 3052.00 – 3055.
Scenario 2: IF Bears hold offer below 3037, THEN initial downside targets 3020 – 3017 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic. Bulls continue to dominate the “field-of-play” and as trend direction traders, continue to lean to the long-side at key levels.
CD3 Range High = 8222.00 CD3 Range Low = 7982.00 CD3 Range Avg = 137.00
Scenario 1: IF Bulls hold bid above 8093, THEN initial upside potential targets 8110 – 8128 zone.
Scenario 2: IF Bears hold offer below 8093, THEN initial downside targets 8065 – 8048 zone.
Range Projections and Key Levels (NQ) December (Z) Contract
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!
“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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