Markets
World stocks are riding the slipstream of the first joint all-time high for Wall Street’s four main markets since 1999, with the Dow, S&P 500, Nasdaq Composite and Russell 2000 all hitting new records. “You’ve seen at the beginning of the year that oil can have a very profound effect on equity markets,” said Jeroen Blokland, a senior portfolio manager at Robeco. “Rising commodity prices do help. But I think there is also a bit of an upbeat mood about the Trump election.”
In Asia, Japan +0.3% to 18162. Hong Kong +1.4% to 22678. China +0.9%to 3248. India +0.8% to 25960.
In Europe, at midday, London +1.1%. Paris +0.7%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.5%. Crude +1.5% to $48.98. Gold +0.6% to $1217.30.
Ten-year Treasury Yield -4 bps to 2.29%
(Source: Seeking Alpha)
Economic Calendar
8:55 Redbook Chain Store Sales
10:00 Existing Home Sales
10:00 Richmond Fed Mfg.
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $34B, 5-Year Note Auction
PTG Trading
Markets continued on their bullish march reaching new all-time highs across indexes. Price targets outlined in DTS Briefing 11.21.16 have been achieved, as 3 Day Cycle Target (2203) was reached in overnight trade.
Today is Cycle Day 3 (CD3)…Cycle Targets have been achieved, so as such, momentum can continue unabated should the bulls continue pressing higher. The filp-side would be normal for existing longs to take some profits heading into long holiday shortened week. Key Support now is marked between 2176 – 2186 10 handle zone.
Range Projections and Key Levels
HOD Range Projection: 2213.00; LOD Range Projection: 2183.00; Cycle Day 1 Low: 2176.50; 3 Day Central Pivot: 2184.00; 3 Day Cycle Target: 2203.00; 10 Day Average True Range: 19.83
**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: Price has cleared PH (2196.50) in overnight trade. This level will need to hold bid for bullish momentum to continue with target zone between 2203 – 2205.50. Should price accelerate during cash session, extreme targets measure 2212 – 2218 STATX Zone.
Scenario 2: Initial sign of lost momentum would be converting PH (2196.50) to new resistance. Should this unfold lower price zone for renewed buy response is 2191.50 – 2187.50 Central Pivot Zone. Uptrend price structure support is 3D CPZ (2185.25 – 2182.75)
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!
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.
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