Markets
In Asia, Japan -1.6%. Hong Kong +0.2%. China -0.9%. India +1.1%.
In Europe, at midday, London +0.5%. Paris +0.1%. Frankfurt +0.4%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.6% to $59.04. Gold +0.1% to $1311.60. Bitcoin flat at $4005.
Ten-year Treasury Yield +2 bps to 2.39%
Source: Seeking Alpha
7:15Randal Quarles: “Financial Stability Board Agenda”
8:30Initial Jobless Claims
8:30GDP Q4
8:30Corporate profits
9:30Richard Clarida Speech
10:00Pending Home Sales
10:00Michele Bowman: “Agriculture and Community Banking”
10:30EIA Natural Gas Inventory
11:00Kansas City Fed Mfg Survey
11:30Fed’s Bostic: “From Bankhead to Buckhead: Prosperity for All”
1:00 PMResults of $32B, 7-Year Note Auction
1:15 PMFed’s Williams Speech
2:30 PMFed’s Williams Speech
3:00 PMFarm Prices
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
6:20 PMFed’s Bullard: U.S. Monetary and Economic Policy
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2802.00 (FULFILLED). Average Range for CD1 is 27.00 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2822.00 CD1 Range Low = 2788.00 CD1 Range Avg = 27.00
Scenario 1: IF Bulls hold bid above 2807, THEN initial upside targets 2818 – 2822 zone.
Scenario 2: IF Bears hold offer below 2807, THEN initial downside targets 2791 – 2788 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
HOD ATR Range Projection: 2828.00; LOD ATR Range Projection: 2782.00; 3 Day Central Pivot: 2812.00; 3 Day Cycle Target: 2846.00; 10 Day Average True Range 33.50; VIX: 15.30
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7310.50 (FULFILLED). Average Range for CD1 is 87.00 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7344.50 CD1 Range Low = 7292.00 CD1 Range Avg = 87.00
Scenario 1: IF Bulls hold bid above 7323, THEN initial upside targets 7344.50 – 7350.00 CD1 Penetration Range Zone
Scenario 2: IF Bears hold offer below 7323, THEN initial downside targets 7292.00 – 7284.00 Range Low Zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
HOD ATR Range Projection: 7397.25; LOD ATR Range Projection: 7238.00; 3 Day Central Pivot: 7357.50; 3 Day Cycle Target: 7357.50; 10 Day Average True Range: 108.00; VIX: 15.30
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.
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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