(Source: Seeking Alpha)

Economic Calendar 

7:00 MBA Mortgage Applications
9:20 Fed’s Evans speech
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
11:30 Fed’s Rosengren: Economic Outlook
11:30 Results of $15B, 2-Year FRN Auction
1:00 PM Results of $28B, 7-Year Note Auction

PTG Trading

Continuation Rally propelled price higher to achieve 2359.50 3 Day Rally Target as quarterly window-dressing took full effect. Overnight trade is quiet with narrow range consolidation.

Today is Cycle Day 2 (CD2)…Expectation for today is for back n fill price action with an upward skew, following strong 2-day rally. Bulls are looking to keep a firm bid as 1st Quarter rolls to a close.

Range Projections and Key Levels

HOD  ATR Range Projection: 2370.27; LOD ATR Range Projection: 2336.48; Cycle Day 1 Low: 2333.50; 3 Day Central Pivot: 2341.50; 3 Day Cycle Target: 2359.50; 10 Day Average True Range: 20.27

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

Today’s Hypotheses: June 2017 (M) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.

Scenario 1:  Bulls must keep control above 2348 – 50 zone with Weekly POC (2345) as key support marker. Possible retest of 2359 handle would be expected today with conversion opening the door to further upside targeting 2365 – 2369 zone.

Scenario 2:  Bears are back on the defensive needing price below 2350 – 2348 zone targeting 2345. 

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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