Equities posted fresh records on Monday, but closed little changed, as the Trump administration issued a new 90-day extension allowing U.S. companies to continue doing business with China’s Huawei. The next catalyst for stock market movement is the flood of retailer earnings, and U.S. index futures are up about 0.3% before the results. About three-fourths of S&P 500 companies have already topped earnings estimates in their Q3 reports, but they are still expected to have posted an overall 0.5% decline in earnings, according to Refinitiv data.
In Asia, Japan -0.5%. Hong Kong +1.6%. China +0.9%. India +0.5%.
In Europe, at midday, London +1.3%. Paris +0.4%. Frankfurt +1%.
Futures at 6:20, Dow +0.2%. S&P +0.3%. Nasdaq +0.4%. Crude -0.9% to $56.61. Gold -0.3% to $1467.20. Bitcoin -4.2% to $8082.
Ten-year Treasury Yield flat at 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” notching another All-Time-High. Main trade theme continues to be Long-Side on pullbacks to key support levels. “Always have a proper entry trigger and risk management plan.”
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 = 3140.00 CD3 Range Low = 3103.00 CD3 Range Avg = 29.00
Scenario 1: IF Bulls hold bid above 3128, THEN initial upside targets 3134 – 3138 zone.
Scenario 2: IF Bears hold offer below 3128, THEN initial downside targets 3124 – 3121 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 = 8377.00 CD3 Range Low = 8320.00 CD3 Range Avg = 104.00
Scenario 1: IF Bulls hold bid above 8367, THEN initial upside potential targets 8377 – 8379 zone.
Scenario 2: IF Bears hold offer below 8367, THEN initial downside targets 8343 – 8334 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.”
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