Markets
“We reiterate our determination to use all policy tools – monetary, fiscal and structural – to achieve our goal of strong, sustainable, balanced and inclusive growth,” leaders from the world’s top economies declared in a joint communique on Sunday following a conference in Chengdu, China. Whereas monetary policy figured prominently in previous meetings of G20 officials, discussions this time around focused on growth, as a result of Britain’s upcoming exit from the EU and fears of rising protectionism across the globe.
In Asia, Japan flat at 16620. Hong Kong +0.1% to 21993. China +0.1% to 3015. India +1.1% to 28095.
In Europe, at midday, London flat. Paris +0.7%. Frankfurt +0.9%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.6% to $43.94. Gold -0.5% to $1316.40.
Ten-year Treasury Yield +2 bps to 1.58%
(Source: Seeking Alpha)
Economic Calendar
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $26B, 2-Year Note Auction
PTG Trading
“Summertime…Summertime…Sum…Sum…Summertime…” What more can we say…Hot temps…Low Volumes…Contracting Ranges (13.50). What’s a day trader to be excited about? Perhaps only the FOMC Meeting Announcement on Wednesday. Other than that it’s a snoozer…Enjoy the fine weather…Go to beach, lake, mountains…whatever your fancy…Enjoy Life!
Today is Cycle Day 1 (CD1)…Normal is for some type of decline…Key Range is currently marked between 2152 – 2172. Bears have not been able to stage a sustainable uprising…Best they have been able to do is push price back to where Bulls are in larger numbers eager to buy.
Range Projections and Key Levels: Sept (U) Contract
HOD Range Projection: 2177.25; LOD Range Projection: 2159.00; Cycle Day 1 Low: 2155.25; 3 Day Central Pivot: 2163.75; 3 Day Cycle Target: 2179.25; 10 Day Average True Range: 13.50
**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September (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 2172 is converted to upper support, THEN upside is open to 2176 2179 zone.
Scenario 2: It would take a concerted and sustainable selling spree below 2152 to have any real effect on existing longs. Average Decline on CD1 is measured to 2148.50.
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. 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