Markets
U.S. bond yields are sharply higher across the board following a public market holiday on Friday, as traders continue to eye upward inflation trends following the election of Donald Trump. The yield on the benchmark 10-year Treasury note is 15 bps higher at 2.27%, while the 30-year Treasury bond yield is over 3% for the first time since January. The movement has also lit a fire under the greenback, with the U.S. dollar index up more than 1%, hitting 100 for the first time in almost a year.
In Asia, Japan +1.7% to 17672. Hong Kong -1.4% to 22222. China +0.5% to 3210. India closed.
In Europe, at midday, London +0.3%. Paris +0.2%. Frankfurt +0.2%.
Futures at 6:20, Dow +0.2%. S&P flat. Nasdaq -0.1%. Crude -1.5% to $42.78. Gold -0.1% to $1223.40.
Ten-year Treasury Yield +15 bps to 2.27%
(Source: Seeking Alpha)
Economic Calendar
1:20 PM Fed’s Kaplan: Monetary Policy
4:30 PM Fed’s Lacker speech
PTG Trading
Today is Cycle Day 3 (CD3)…Average 3 Day Cycle Target (2174.00) has been achieved, so the bulls will need to push price above CD2 High (2170.50) to expand range. IF this occurs, THEN potential upside measures 2192 – 2198 zone. Failure to expand higher may give bears opening to push for lower targets 2151 – 2147 zone and more.
Range Projections and Key Levels
HOD Range Projection: 2184.25; LOD Range Projection: 2148.50; Cycle Day 1 Low: 2147.75; 3 Day Central Pivot: 2147.50; 3 Day Cycle Target: 2174.00; 10 Day Average True Range: 26.20
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: December (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 (2170.50), THEN upside expansion targets measure 2178.50 – 2184.25, with extremes upwards to 2192 – 2198 zone.
Scenario 2: IF price violates and converts 2158 handle to lower resistance, primary objective for bears is to retest PL (2148.50) forcing long selling targeting 2140.25.
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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