In Europe, at midday, London +0.1%. Paris +0.5%. Frankfurt +0.6%.
Futures at 6:20, Dow +0.1%. S&P +0.2%. Nasdaq +0.2%. Crude +0.4% to $46.28. Gold -0.4% to $1263.70.
Ten-year Treasury Yield flat at 2.22%
Economic Calendar
FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Producer Price Index
8:55 Redbook Chain Store Sales
1:00 PM Results of $12B, 30-Year Note Auction
PTG Trading
Weekly Review and Preview can be viewed @ PTG Preview 6.12 – 6.16
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline with the average measuring 2414 handle. Price is currently above 2430 level outlined in prior DTS Report that bulls need to recover. Follow-through session would strengthen bullish case. Bears need a “normal” CD1 with a decline. Key Support Zone is marked between 2416 – 2414.
Range Projections and Key Levels
HOD ATR Range Projection: 2438.00; LOD ATR Range Projection: 2420.68; Cycle Day 1 Low: 2433.00; 3 Day Central Pivot: 2428.00; 3 Day Cycle Target: 2442.50; 10 Day Average True Range: 12.82
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September 2017 (U) 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 Bulls clear and convert 2430, THEN upside recovery targets 2438 handle.
Scenario 2: IF Bears violate and convert 2425, THEN initial downside measure 2418, then 2414.
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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