(Source: Seeking Alpha)

Economic Calendar 

8:30 Initial Jobless Claims
8:30 Producer Price Index
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $15B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

PTG Trading

S&P 500 e-mini (ES) held within our expected parameters of 2388 – 2396 as outlined in prior Daily Trade Strategy 5.10.17. In overnight trade range has compressed to a slim 5 handles but holding above 2392. Bulls need solid support above 2396 handle to again push for 2400+

Today is Cycle Day 2 (CD2)…Expectation is for some back n fill above prior CD1 Low (2387.50) key support.

Range Projections and Key Levels

HOD  ATR Range Projection: 2400.50; LOD ATR Range Projection: 2385.50; Cycle Day 1 Low: 2387.50; 3 Day Central Pivot: 2394.50; 3 Day Cycle Target: 2404.87; 10 Day Average True Range: 9.77

**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 2396 handle, THEN upside test of 2400 strike comes into play. Above this level targets 2405 – 2408 zone.

Scenario 2:  IF price violates and converts 2390 to lower resistance, THEN downside objective pushes for 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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