Markets
In Asia, Japan -0.60%. Hong Kong -0.59%. China +0.51%. India -0.55%.
In Europe, at midday, London -0.39%. Paris -0.40%. Frankfurt -0.40%.
Futures at 5:30, Dow -0.20%. S&P -0.15%. Nasdaq -0.12%. Crude -0.83% to $49.90. Gold +0.28% to $1,577.80. Bitcoin -2.95% to $9,806.
Ten-year Treasury Yield -1.1bps to 1.566%.
Source: Seeking Alpha https://seekingalpha.com/
Economic Calendar
12:30 PM TD Ameritrade IMX
https://www.investing.com/economic-calendar/
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 3 (CD3)…Price recovered CD1 Low (3332.50) during GLOBEX Session, fulfilling Positive 3 Day Cycle Statistic, which has a 91% probability of occurring each Cycle.
Trade action is also fairly balanced with approximately 15 handle range (3320 – 3335). 5-day Point of Control (POC) is 3327 which will be today’s Line-In-Sand (LIS)
Range High = 3334.00 Range Low = 3320.00 CD3 Range Avg = 28.00
Bull Scenario: IF Bulls hold bid above 3327, THEN initial upside targets 3332 – 3336 zone.
Bear Scenario: IF Bears hold offer below 3327, THEN initial downside targets 3323 – 3320 zone.
Range Projections and Key Levels (ES) March 2020 (H) Contract
HOD ATR Range Projection: 3339.00; LOD ATR Range Projection: 3299.00; 3 Day Central Pivot: 3332.50; 3 Day Cycle Target: 3373.00; 10 Day Average True Range 35.50; VIX: 16.00
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price recovered CD1 Low (9362.50) during GLOBEX Session, fulfilling Positive 3 Day Cycle Statistic which has a 91% probability of occurring each Cycle.
CD1 Range High = 9430.00 CD1 Range Low = 9332.00 CD1 Range Avg = 98.00
Bull Scenario: IF Bulls hold bid above 9410, THEN initial upside targets 9430 – 9440 zone.
Bear Scenario: IF Bears hold offer below 9410, THEN initial downside targets 9400 – 9392 zone.
Range Projections and Key Levels (NQ) March 2020 (H) Contract
HOD ATR Range Projection: 9462.00; LOD ATR Range Projection: 9310.00; 3 Day Central Pivot: 9413.00; 3 Day Cycle Target: 9436.00; 10 Day Average True Range: 130.50; VIX: 16.00
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.
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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