(Source: Seeking Alpha)

Economic Calendar 

7:00 MBA Mortgage Applications
8:30 Import/Export Prices
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Results of $23B, 10-Year Note Auction
2:00 PM Treasury Budget

PTG Trading

S&P e-mini (ES) tested 2400 and was rejected, pushing price back down to 2388 breakout level. Bulls will need to stem any further selling pressure and recover price back above 2392 handle, otherwise a deeper decline back into prior week’s range may unfold.

Today is Cycle Day 1 (CD1)…Average Decline measures 2386 (prior week’s POC)), with Max Average Decline targets 2378 (prior week’s VAL). Range High = 2397.75…Range Low = 2382.00. 

Range Projections and Key Levels

HOD  ATR Range Projection: 2397.75; LOD ATR Range Projection: 2382.00; Cycle Day 1 Low: 2379.00; 3 Day Central Pivot: 2394.00; 3 Day Cycle Target: 2404.87; 10 Day Average True Range: 10.23

**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 holds 2388, THEN clears and converts 2392, 2396 becomes next objective for bulls.

Scenario 2:  IF price fails to clear 2392 and subsequently violates and converts 2388 to lower resistance, THEN downside initially targets 2386, followed by 2381 (YELL).

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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