In Asia, Japan +0.8%. Hong Kong +0.5%. China +0.2%. India closed.
In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt +0.6%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude +0.6% to $57.20. Gold -0.3% to $1452.80. Bitcoin +0.2% to $8736.
Ten-year Treasury Yield +1 bps to 1.95%
Source: Seeking Alpha https://seekingalpha.com/
8:55Redbook Chain Store Sales
1:00 PMFed’s Harker: “What’s Next for the U.S. Economy and the Fed?”
***New: PTG Trading Room Chat Log’s Link
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 3055.00. Average Range for CD1 is 37.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 44%
CD1 Range High = 3118.00 CD1 Range Low = 3056.00 CD1 Range Avg = 37.00
Scenario 1: IF Bulls hold bid above 3085, THEN initial upside targets 3095 – 3100 zone.
Scenario 2: IF Bears hold offer below 3085, THEN initial downside targets 3075 – 3070 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
HOD ATR Range Projection: 3100.00; LOD ATR Range Projection: 3075.00; 3 Day Central Pivot: 3085.00; 3 Day Cycle Target: 3124.00; 10 Day Average True Range 19.60; VIX: 12.75
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 8147.00. Average Range for CD1 is 122.00 handles. Odds of decline > 20 handles = 75% Odds of decline > 25 = 67%
CD1 Range High =8350.00 CD1 Range Low = 8152.00 CD1 Range Avg = 122.00
Scenario 1: IF Bulls hold bid above 8254, THEN initial upside targets 8274 – 8297 zone.
Scenario 2: IF Bears hold offer below 8254, THEN initial downside targets 8232 – 8206 zone.
Range Projections and Key Levels (NQ) December 2019 (Z) Contract
HOD ATR Range Projection: 8297.00; LOD ATR Range Projection: 8206.00; 3 Day Central Pivot: 8238.00; 3 Day Cycle Target: 8370.00; 10 Day Average True Range: 68.50; VIX: 12.75
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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