Signs of trade progress on Monday helped propel U.S. indices to records as the DJIA tacked on 190 points and returned to the 28,000 level. Dow futures are now ahead by 0.6%, though S&P and Nasdaq futures have pulled back a bit, as leaders of the U.S.-China trade negotiations held another phone call on Tuesday morning. Investors today are also eyeing the U.S. data front, with new home sales expected to jump and consumer confidence figures on tap.
In Asia, Japan +0.4%. Hong Kong -0.3%. China flat. India -0.2%.
In Europe, at midday, London +0.1%. Paris -0.1%. Frankfurt +0.2%.
Futures at 6:20, Dow +0.6%. S&P -0.1%. Nasdaq -0.1%. Crude +0.4% to $58.24. Gold +0.1% to $1457.70. Bitcoin +6.3% to $7177.
Ten-year Treasury Yield -2 bps to 1.75%
Source: Seeking Alpha https://seekingalpha.com
8:30 International trade in goods
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
10:00 New Home Sales
10:00 Richmond Fed Mfg.
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*****The 3 Day Cycle Spreadsheet which subscribers receive shortly after market close for next trading session contains all the projected range targets. Here is link to web page to learn more: https://polaristradinggroup.com/ptg-3-day-cycle/
CD2 Range High = 3160.00 CD2 Range Low = 3112.00 CD2 Range Avg = 32.25
Scenario 1: IF Bulls hold bid above 3132, THEN initial upside potential targets 3142 – 3145 zone.
Scenario 2: IF Bears hold offer below 3132, THEN initial downside objective targets 3125 – 3120 zone.
Range Projections and Key Levels (ES) December 2019 (Z) Contract
Nasdaq 100 (NQ)
CD2 Range High = 8426.50 CD2 Range Low = 8362.00 CD2 Range Avg = 113.00
Scenario 1: IF Bulls hold bid above 8375, THEN initial upside potential targets 8412 – 8420 zone.
Scenario 2: IF Bears hold offer below 8375, THEN initial downside objective targets 8357 – 8350 zone.
Range Projections and Key Levels (NQ) December 2019 (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.”
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