Markets
In Asia, Japan -1.6%. Hong Kong -0.8%. China -0.2%. India -0.3%.
In Europe, at midday, London -1.2%. Paris -1.6%. Frankfurt -2%.
Futures at 6:20, Dow -1.1%. S&P -1.2%. Nasdaq -1.5%. Crude -2.1% to $55.43. Gold +0.8% to $1303.30. Bitcoin -4.8% to $8333.
Ten-year Treasury Yield -7 bps to 2.16%
Source: Seeking Alpha
8:30Personal Income and Outlays
9:15Fed’s Bostic: “Assessing the Global Economy: An Insider’s Look”
9:45Chicago PMI
10:00Consumer Sentiment
12:00 PMFed’s Williams: “Monetary Policy Theory and Practice and the Lower Bound on Interest Rates”
1:00 PMBaker-Hughes Rig Count
3:00 PMFarm Prices
***New: PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 2762.50 (FULFILLED). Average Range for CD1 is 32.00 handles. Odds of decline > 10 handles = 73% Odds of decline > 20 = 43%
CD1 Range High = 2785.00 CD1 Range Low = 2760 CD1 Range Avg = 32.00
Scenario 1: IF Bulls hold bid above 2768, THEN initial upside targets 2775 – 2780 zone.
Scenario 2: IF Bears hold offer below 2768, THEN initial downside targets 2762.50 – 2756.50 zone.
Range Projections and Key Levels (ES) June 2019 (M) Contract
HOD ATR Range Projection: 2784.00; LOD ATR Range Projection: 2761.00; 3 Day Central Pivot: 2796.00 3 Day Cycle Target: 2792.00; 10 Day Average True Range 30.41; VIX: 19.34
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal is for a decline measuring 7161.25 (FULFILLED). Average Range for CD1 is 106.50 handles. Odds of decline > 20 handles = 74% Odds of decline > 25 = 66%
CD1 Range High =7240.50 CD1 Range Low = 7149.75 CD1 Range Avg = 106.50
Scenario 1: IF Bulls hold bid above 7195, THEN initial upside targets 7220 – 7230 zone.
Scenario 2: IF Bears hold offer below 7195, THEN initial downside targets 7148.50 – 7138.00 zone.
Range Projections and Key Levels (NQ) June 2019 (M) Contract
HOD ATR Range Projection: 7227.00; LOD ATR Range Projection: 7163.00; 3 Day Central Pivot: 7363.00; 3 Day Cycle Target: 7255.00; 10 Day Average True Range: 92.84; VIX: 19.34
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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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