Markets
The Dow Jones industrial average is within striking distance of 20,000 and some investors believe that piercing that level would signal the recent rally may continue. The U.S. stock market as a whole has added $1.6T since the election of Donald Trump on bets that his plans for deregulation, tax cuts and infrastructure spending will boost the economy. The Dow first hit 10,000 in 1999.
In Asia, Japan -0.3%. Hong Kong +0.4%. China +1.1%. India -0.3%.
In Europe, at midday, London -0.2%. Paris -0.6%. Frankfurt -0.1%.
Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq flat. Crude +0.6% to $53.64. Gold +0.1% to $1135.
Ten-year Treasury Yield flat at 2.56%
(Source: Seeking Alpha)
Economic Calendar
7:00 MBA Mortgage Applications
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories
PTG Trading
Volatility and price range continue to contract in pre-holiday trade, as overnight trade range is a meager 4 handles. Not much to add to today’s briefing, other than play “close-to-the-vest” and do not try making up for lost performance in the last few trading sessions of the year.
Use this time productively by doing a “year-end review” and make necessary changes in your trading plan that will move you closer to reaching your full potential as a futures trader.
Today is Cycle Day 3 (CD3)…Bulls continue to control the ball as price progressively inch ever closer to new highs. Santa has already delivered his “goodies”, but apparently is enjoying munching on cookies and milk.
Range Projections and Key Levels
HOD ATR Range Projection: 2281.95; LOD ATR Range Projection: 2250.05; Cycle Day 1 Low: 2254.00; 3 Day Central Pivot: 2260.50; 3 Day Cycle Target: 2278.95; 10 Day Average True Range: 17.70
**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: Key level to convert remains 2266 handle and push above 2269 – 2273 pivot high. IF this occurs, THEN upside is wide open to 2277.50 – 2280.75 STATX Zone and 3 Day Cycle Targets.
Scenario 2: Any violation and conversion of 2260- 2258 zone would be sign of weakness targeting CD1 Low 2254 down through 2250 lower STATX Zone.
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