Global equity markets spread holiday cheer
U.S. stock futures all point up, following rising equity markets in Europe and Asia that brought global benchmarks to new records. S&P futures gained 0.2%, the Nasdaq rose 0.3% and the Dow added 0.3%
In Asia, Japan -0.36%. Hong Kong +1.30%. China -0.08%. India +1.00%.
In Europe, at midday, London +0.35%. Paris +0.40%. Frankfurt +0.36%.
Futures at 6:20, Dow +0.28%. S&P +0.22%. Nasdaq +0.32%. Crude +0.34% to $61.89. Gold +0.13% to $1,516.30. Bitcoin -0.34% to $7,216.2.
Ten-year Treasury Yield -1 bps to 1.89%.
(Source: Seeking Alpha) https://seekingalpha.com/
10:00 State Street Investor Confidence Index
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:00 PM Baker-Hughes Rig Count
3:00 PM Farm Prices
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Today is Cycle Day 3 …Price is extending recent gains above prior high fulfilling 3 Day Cycle Objectives in fine fashion as “Santa Claus Rally” is in high gear mode with Tech Stocks leading the pack.
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 = 3265.00 CD3 Range Low = 3230.00 CD3 Range Avg = 26.50
Scenario 1: IF Bulls hold bid above 3250, THEN initial upside targets 3255 – 3257 zone.
Scenario 2: IF Bears hold offer below 3250, THEN initial downside targets 3245 – 3242 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
HOD ATR Range Projection: 3257.00; LOD ATR Range Projection: 3238.00; Cycle Day 1 Low: 3222.50; 3 Day Central Pivot: 3231.00; 3 Day Cycle Target: 3251.00; 10 Day Average True Range 15.18; VIX: 12.52
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. Tech Stocks such as AMZN; AAPL have been the key drivers of this Rally.
CD3 Range High = 8860.00 CD3 Range Low = 8782.00 CD3 Range Avg = 92.00
Scenario 1: IF Bulls hold bid above 8828, THEN initial upside potential targets 8836 – 8842 zone.
Scenario 2: IF Bears hold offer below 8828, THEN initial downside targets 8820 – 8810 zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
HOD ATR Range Projection: 8856.00; LOD ATR Range Projection: 8787.00; Cycle Day 1 Low: 8707.00; 3 Day Central Pivot: 8743.00; 3 Day Cycle Target: 8836.00; 10 Day Average True Range: 55.71; VIX: 12.52
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