In Europe, at midday, London +0.8%. Paris +0.4%. Frankfurt +0.7%.
Futures at 6:20, Dow +0.5%. S&P +0.6%. Nasdaq +0.8%. Crude +1.7% to $54.36. Gold +0.3%to $1224.80. Bitcoin +3.2% to $4509.
Ten-year Treasury Yield +2 bps to 3.07%
7:00 MBA Mortgage Applications
8:30 Durable Goods
8:30 Initial Jobless Claims
10:00 Consumer Sentiment
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Petroleum Inventories
12:00 PM EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link Click this link to view:
Today is Cycle Day 2 (CD2)…Prior session was a normal Cycle Day 1 as price declined fulfilling CD1 Violation objectives before reversing, settling near mid-balance. In overnight trade buyers returned pushing price to 2658.75, fulfilling 3 Day Cycle Target.
CD2 Range High = 2669.25 CD2 Range Low = 2636.50 CD2 Range Avg = 37.00
Scenario 1: IF price holds bid above 2655, THEN upside targets 2667.50 – 2669.25 CD2 Range Penetration Targets.
Scenario 2: IF price holds offer below 2655, THEN downside targets 2646.25 – 2640.50 zone.
Range Projections and Key Levels (ES) December (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Prior session was a normal Cycle Day 1 as price declined fulfilling CD1 Violation objectives before reversing, settling near mid-balance. In overnight trade buyers returned pushing price to 6591.25, fulfilling 3 Day Cycle Target.
CD2 Range High = 6655.00 CD2 Range Low = 6468.00 CD2 Range Avg = 146.00
Scenario 1: IF price holds bid above 6550, THEN upside targets 6591.25 (3D Cycle Target), followed by 6654 – 6674.50 CD2 Range Penetration Target.
Scenario 2: IF price holds offer below 6550, THEN downside targets 6514.50 – 6504.00 CD2 Range Violation Level.
Range Projections and Key Levels (NQ) December (Z) Contract
HOD ATR Range Projection: 6694.50; LOD ATR Range Projection: 6438.00; Cycle Day 1 Low: 6449.50; 3 Day Central Pivot: 6722.50; 3 Day Cycle Target: 6591.25; 10 Day Average True Range: 185.50; VIX: 21.55
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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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN