Markets
Donald Trump is set to seal his Presidential victory today as the electoral college meets for a vote that is usually routine but takes place this year amid allegations of election hacking by Russia. Its 538 members are due to cast their official votes and – despite attempts to persuade electors to vote against Trump – a reversal of November’s result is not expected.
In Asia, Japan -0.1%. Hong Kong -0.9%. China -0.2%. India -0.4%.
In Europe, at midday, London +0.1%. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow +0.2%. S&P +0.1%. Nasdaq +0.1%. Crude +0.4% to $53.18. Gold +0.3% to $1141.10.
Ten-year Treasury Yield -1 bps to 1.58%
(Source: Seeking Alpha)
Economic Calendar
9:45 PMI Services Index Flash
1:30 PM Janet Yellen speech
PTG Trading
Quad Options expiration is now past…Electoral College is set to confirm Trump as President-Elect…One week remaining to Christmas and Santa has already delivered on the proverbial “Santa Claus” Rally. So what’s left to do? Have fun and enjoy life!
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline, though expected quiet trade volumes may keep price ranges within normal parameters. Average True Range stands at 18.50 handles, which is historical norm. 2274 – 2242 is current Hi Lo range.
Range Projections and Key Levels
HOD ATR Range Projection: 2274.25; LOD ATR Range Projection: 2242.25; Cycle Day 1 Low: 2243.00; 3 Day Central Pivot: 2257.25; 3 Day Cycle Target: 2282.00; 10 Day Average True Range: 18.50
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: March 2017 (H) 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: IF price converts 2266 handle to upper support, THEN expansion targeting 2274 – 2280 STATX Zone.
Scenario 2: Violation and conversion of 2250 handle targets 2242 – 2238 range lows. Lower STATX Zone between 2238 – 2233.
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