(Source: Seeking Alpha)

Economic Calendar 

8:55 Redbook Chain Store Sales
9:00 FHFA House Price Index
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 New Home Sales
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
1:00 PM Results of $26B, 2-Year Note Auction

PTG Trading

Early gap higher lead to a relatively quite trade session for the RTH trader with an 11.50 handle range. Overnight trade continues to be quiet as well with traders awaiting key announcements this week regarding Tax Plan and looming Continuing Resolution (CR).

Today is Cycle Day 2 (CD2)…With an aberrant CD1, there is plenty of room to continue the rally targeting 2381 – 2383 zone, followed by 2386.75 range high. 

Range Projections and Key Levels

HOD  ATR Range Projection: 2386.75; LOD ATR Range Projection: 2356.50; Cycle Day 1 Low: 2365.25; 3 Day Central Pivot: 2355.25; 3 Day Cycle Target: 2383.81; 10 Day Average True Range: 18.50

**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:  IF price clears and converts PH (2376.75), THEN upside is open targeting 2382 cycle penetration level, followed by 2383.81 3 Day Cycle target.

Scenario 2:  IF price violates and converts CD1 Low (2365.25), THEN bears have an opening to push for lower targeting 2358 – 56 range. 

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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