Markets
The S&P closed higher for the fifth consecutive session on Tuesday, notching its longest winning streak since November. Stronger-than-expected housing data continued to support the bullish case for stocks as investors await more details about a preliminary trade agreement between the U.S. and China. Futures contracts linked to the DJIA are now up by 24 points, while S&P 500 and Nasdaq futures are ahead by 0.1%.
In Asia, Japan -0.6%. Hong Kong +0.2%. China -0.2%. India +0.5%.
In Europe, at midday, London +0.1%. Paris +0.1%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -0.7% to $60.45. Gold +0.2% to $1483.30. Bitcoin -3.7% to $6622.
Ten-year Treasury Yield -2 bps to 1.87
(Source: Seeking Alpha) https://seekingalpha.com/
Economic Calendar
10:30 EIA Petroleum Inventories
12:40 PM Fed’s Evans Speech
https://www.investing.com/economic-calendar/
*****New PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 3 …Price is holding and consolidating recent gains above 3192 marked as “key support” in prior DTS Briefing 12.17.19. Also stated in prior report and worth repeating: “Price action is expected to be influenced this week by Quadruple Expiration for Options Contracts as well as continuation of Futures Contract Rollover to March (H) 2020 front month.”
Key Options Expiration Strike Prices: 3175…3200…3225..3250
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 = 3216.00 CD3 Range Low = 3175.00 CD3 Range Avg = 28.00
Scenario 1: IF Bulls hold bid above 3200, THEN initial upside targets 3213 – 3220 zone.
Scenario 2: IF Bears hold offer below 3200, THEN initial downside targets 3188 – 3180 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
HOD ATR Range Projection: 3213.00; LOD ATR Range Projection: 3177.00; Cycle Day 1 Low: 3177.00; 3 Day Central Pivot: 3188.00; 3 Day Cycle Target: 3213.00; 10 Day Average True Range 22.00; VIX: 12.00
Nasdaq 100 (NQ)
Today is Cycle Day 3…Price is above this Cycle’s CD1 Low fulfilling Positive 3 Day Cycle Statistic and 3 Day Cycle Objective.
CD3 Range High = 8655.00 CD3 Range Low = 8555.00 CD3 Range Avg = 99.00
Scenario 1: IF Bulls hold bid above 8610, THEN initial upside potential targets 8627 – 8650 zone.
Scenario 2: IF Bears hold offer below 8610, THEN initial downside targets 8580 – 8562 zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
HOD ATR Range Projection: 8668.00; LOD ATR Range Projection: 8543.00; Cycle Day 1 Low: 8530.00; 3 Day Central Pivot: 8568.00; 3 Day Cycle Target: 8650.00; 10 Day Average True Range: 73.00; VIX: 12.00
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