Trade Strategy 11.6.19

Markets

Futures hug the flatline

Wall Street almost netted another hat trick on Tuesday, with the Dow and Nasdaq scoring new records, though the S&P 500 fell back slightly. Futures are now holding steady, consolidating gains made over the last three sessions due to lingering concerns over the outcome of U.S.-China trade talks.

In Asia, Japan +0.2%. Hong Kong flat. China -0.4%. India +0.6%.
In Europe, at midday, London -0.2%. Paris +0.1%. Frankfurt flat.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.6% to $56.89. Gold +0.4% to $1489.30. Bitcoin +1% to $9373.
Ten-year Treasury Yield -2 bps to 1.84%

(Source: Seeking Alpha)  https://seekingalpha.com/

Economic Calendar

8:30Productivity and Costs
9:30Fed’s Williams Speech
10:30EIA Petroleum Inventories
1:00 PMResults of $27B, 10-Year Note Auction

https://www.investing.com/economic-calendar/

*****New PTG Trading Room Chat Log’s Link

S&P 500

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” though prices have pulled back modestly from 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 = 3103.00          CD3 Range Low = 3040.50          CD3 Range Avg = 35.50

Scenario 1: IF Bulls hold bid above 3068, THEN initial upside targets 3078 – 3082 zone.

Scenario 2: IF Bears hold offer below 3068, THEN initial downside targets 3058 – 3055 zone.

Range Projections and Key Levels (ES) December (Z) Contract

HOD  ATR Range Projection: 3088.50; LOD ATR Range Projection: 3055.00; Cycle Day 1 Low: 3064.75; 3 Day Central Pivot: 3068.00; 3 Day Cycle Target: 3115.50; 10 Day Average True Range 21.00; VIX: 13.16

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 = 8323.00          CD3 Range Low = 8106.00          CD3 Range Avg = 132.00

Scenario 1: IF Bulls hold bid above 8210, THEN initial upside potential targets 8228 – 8236 zone.

Scenario 2: IF Bears hold offer below 8210, THEN initial downside targets 8192 – 8182 zone.

Range Projections and Key Levels (NQ) December (Z) Contract

HOD  ATR Range Projection: 8273.00; LOD ATR Range Projection: 8156.00; Cycle Day 1 Low: 8164.00; 3 Day Central Pivot: 8187.00; 3 Day Cycle Target: 8329.50; 10 Day Average True Range: 73.00; VIX: 13.16

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


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