Markets
U.S. stock index futures are ahead by 0.4%, following other data on Thursday that showed fewer new U.S. jobless claims than forecast.
Source: SeekingAlpha.com
Economic Calendar
8:30 Non-farm payrolls
8:30 Goods and Services Trade
1:00 PM Baker-Hughes Rig Count
Drumroll for non-farm payrolls
It’s the first Friday of the month, and that means the release of the Labor Department’s monthly employment report. Non-farm payrolls likely increased by 469,000 jobs in November after rising by 638,000 jobs in October, while the unemployment rate probably ticked down 0.1 percentage point to 6.8%. Those figures indicate that jobs growth is slowing for the fifth straight month since 4.8M jobs were added in June, though it also suggests the labor market is continuing to recover despite being in the middle of the worst wave of the pandemic.
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Prior Session was Cycle Day 2 (CD2): Price oscillated throughout the session in a normal Cycle Day 2, closing near midpoint of day. Range was 26.75 handles (half the average) on 1.060M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is trading at the upper edge of prior value zone (3678) during overnight trade as 3-day cycle statistic has been fulfilled. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3678, initially targets 3689 – 3692 zone.
2.) Price sustains an offer below 3678, initially targets 3670 – 3665 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3678 PVA Low Edge = 3665 Prior POC = 3670
Range Projections and Key Levels (ES) December 2020 (Z) Contract
HOD ATR Range Projection: 3700; LOD ATR Range Projection: 3650; 3 Day Central Pivot: 3662; 3 Day Cycle Target: 3715; 10 Day Average True Range 34; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading within prior day value zone during overnight activity. Prior Range was 96.25 handles on 371k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12505 PVA Low Edge = 12470 Prior POC = 12488
Bull Scenario: IF Bulls sustain a bid above 12505, THEN initial upside estimate targets 12530 – 12540 zone.
Bear Scenario: IF Bears sustain an offer below 12505, THEN initial downside estimate targets 12490 – 12470 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
HOD ATR Range Projection: 12632; LOD ATR Range Projection: 12363; 3 Day Central Pivot: 12445; 3 Day Cycle Target: 12650; 10 Day Average True Range: 158; VIX: 21
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