U.S. stock index futures are pointing to a muted open ahead of this morning’s release of the Fed’s preferred inflation gauge – the PCE deflator – with any slowing in core prices likely to boost market bulls following Friday’s strong Q1 GDP reading of 3.2%. Data overnight also showed profits from China’s industrial firms growing in March before the next round of U.S.-China trade talks kicks off tomorrow. A rate decision from the Fed on Wednesday could also cement its dovish tilt, and coupled by a series of solid earnings and outlooks from U.S. tech giants could send equity indices to their next run of record highs.
In Asia, Japan closed. Hong Kong +1%. China -0.8%. India +0.9%.
In Europe, at midday, London -0.1%. Paris -0.3%. Frankfurt -0.3%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.7% to $62.87. Gold -0.4% to $1284.10. Bitcoin -1.1% to $5137.
Ten-year Treasury Yield flat at 2.5%
Source: Seeking Alpha
***New: PTG Trading Room Chat Log’s Link
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2917.00. Average Range for CD1 is 23.75 handles. Odds of decline > 10 handles = 72% Odds of decline > 20 = 43%
CD1 Range High = 2961.50 CD1 Range Low = 2923.00 CD1 Range Avg = 23.75
Scenario 1: IF Bulls hold bid above 2939, THEN initial upside targets 2944 – 2947 zone. Conversion of this zone further measures 2950 – 2952 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 2939, THEN initial downside targets 2934 – 2930 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7770.00. Average Range for CD1 is 75.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 65%
CD1 Range High =7882.00 CD1 Range Low = 7805.00 CD1 Range Avg = 75.50
Scenario 1: IF Bulls hold bid above 7837.00, THEN initial upside targets 7866 – 7874 CD1 Penetration Zone.
Scenario 2: IF Bears hold offer below 7837.00, THEN initial downside targets 7824 – 7820 zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
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.
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