In Asia, Japan +1.4%. Hong Kong -0.3%. China -0.3%. India +0.4%.
In Europe, at midday, London flat. Paris flat. Frankfurt -0.1%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq -0.1%. Crude -0.3% to $63.70. Gold -0.4% to $1289.60. Bitcoin +1.8% to $5149.
Ten-year Treasury Yield flat at 2.56%
Source: Seeking Alpha
8:30Empire State Mfg Survey
8:30Fed’s Evans Speech
12:00 PMFed’s Evans: Economic Conditions and Monetary Policy
4:00 PMTreasury International Capital
***New: PTG Trading Room Chat Log’s Link
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2891.50. Average Range for CD1 is 24.50 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2933.00 CD1 Range Low = 2890.00 CD1 Range Avg = 24.50
Scenario 1: IF Bulls hold bid above 2912.00, THEN initial upside targets 2922.25 – 2924.00 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 2912.00, THEN initial downside targets 2902.00 – 2898 3 Day Central Pivot Zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
HOD ATR Range Projection: 2928.25; LOD ATR Range Projection: 28+5.50; 3 Day Central Pivot: 2896.00 3 Day Cycle Target: 2937.00; 10 Day Average True Range 19.00; VIX: 12.30
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7583.00. Average Range for CD1 is 77.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7693.00 CD1 Range Low = 7602.00 CD1 Range Avg = 77.50
Scenario 1: IF Bulls hold bid above 7654.00, THEN initial upside targets 7685.50 – 7695.00 zone.
Scenario 2: IF Bears hold offer below 7654.00, THEN initial downside targets 7617.00 – 7610.50 CD1 Violation Range Zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
HOD ATR Range Projection: 7696.00; LOD ATR Range Projection: 7599.50; 3 Day Central Pivot: 7631.00; 3 Day Cycle Target: 7706.50; 10 Day Average True Range: 57.50; VIX: 12.30
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!
“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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