Markets
In Asia, Japan -0.2%. Hong Kong +0.7%. China +1.9%. India -0.1%.
In Europe, at midday, London +0.5%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.6%. Crude +0.9% to $57.48. Gold -0.2%to $1325. Bitcoin +0.9% to $3917.
Ten-year Treasury Yield flat at 2.68%
Source: Seeking Alpha
10:15 Fed’s Mary Speech
10:15 Fed’s Williams: “Prospects for Inflation with a High-Pressure Economy”
1:00 PM Baker-Hughes Rig Count
1:30 PM Fed’s Bullard: “The Future of the Federal Reserve’s Balance Sheet”
1:30 PM Fed’s Clarida: “The Future of the Federal Reserve’s Balance Sheet”
1:30 PM Fed’s Harker: “The Future of the Federal Reserve’s Balance Sheet”
5:30 PM Fed’s Williams Speech
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2760.00. Average Range for CD1 is 23.75 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 42%
Key Note: Decline which occurred in prior session Cycle Day 3 fulfilled the average downside range objective of 23.50 points or 2767.25. As such, probabilities favored price rally which has begun during GLOBEX trade.
CD1 Range High = 2795.50 CD1 Range Low = 2764.00 CD1 Range Avg = 23.75
Scenario 1: IF price holds bid above 2773, THEN initial upside targets 2785 5 day VAH and ATR (75%). Further strength above this level targets 2792.50 – 2794.00 CD1 Range High Zone.
Scenario 2: IF price holds offer below 2773, THEN initial downside targets 2766 – 2764.25 CD1 ATR Range Low Zone
Range Projections and Key Levels (ES) March 2019 (H) Contract
HOD ATR Range Projection: 2792.50; LOD ATR Range Projection: 2766.00; 3 Day Central Pivot: 2780.00; 3 Day Cycle Target: 2798.25; 10 Day Average True Range 22.00; VIX: 14.20
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7024.50 Average Range for CD1 is 54.50 handles. Odds of decline > 20 handles = 73% Odds of decline > 25 = 64%
Key Note: Downside average range objective has been fulfilled 7024.50. As such, probabilities favored price rally which has begun during GLOBEX trade.
CD1 Range High =7074.00 CD1 Range Low = 7024.50 CD1 Range Avg = 54.50
Scenario 1: IF price holds bid above 7024.50, THEN initial upside targets 7064.00 – 7073.75 CD1 Range High Zone
Scenario 2: IF price holds offer below 7024.50, THEN initial downside targets 7009.00 – 7000.00 ATR Range Low Zone.
Range Projections and Key Levels (NQ) March 2019 (H) Contract
HOD ATR Range Projection: 7089.25; LOD ATR Range Projection: 7009.00; 3 Day Central Pivot: 7062.50; 3 Day Cycle Target: 7086.50; 10 Day Average True Range: 70.00; VIX: 14.20
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