Markets
U.S. futures point to a modestly higher open after Thursday’s decline and with a fresh batch of earnings due this morning.
In Asia, Japan -0.45%. Hong Kong -0.69%. China +0.24%. India +0.29%.
In Europe, at midday, London +0.48%. Paris +0.53%. Frankfurt +0.44%.
Futures at 6:20, Dow +0.30%. S&P +0.32%. Nasdaq +0.46%. Crude +0.6%to $56.36. Gold +0.28% to $1,418.70. Bitcoin -3.4% to $9,770.
Ten-year Treasury Yield flat at 2.069%.
Source: Seeking Alpha https://seekingalpha.com
Economic Calendar https://www.investing.com/economic-calendar/
8:30GDP Q2
1:00 PMBaker-Hughes Rig Count
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…Price declined as expected for a Cycle Day 1 finding solid buy response within the 3 Day Central Pivot Zone. At which time this cycle’s rally began, rising to 3016 5-day Value Area High. Conversion of this level to upper support further targets 3022 – 3026 zone.
CD2 Range High = 3030.00 CD2 Range Low = 2993.00 CD2 Range Avg = 30.50
Scenario 1: IF Bulls hold bid above 3006, THEN initial upside potential targets 3014 – 3016 zone.
Scenario 2: IF Bears hold offer below 3006, THEN initial downside objective targets 2998 – 2993 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
HOD ATR Range Projection: 3027.00; LOD ATR Range Projection: 2996.00; 3 Day Central Pivot: 3008.00; 3 Day Cycle Target: 3026.00; 10 Day Average True Range 21.36: VIX: 12.50
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price declined as expected for a Cycle Day 1 finding solid buy response within the 3 Day Central Pivot Zone. At which time this cycle’s rally began, rising to 7990 5-day Value Area High. Pre-RTH price is currently trading near session highs.
CD2 Range High = 8045.00 CD2 Range Low = 7964.00 CD2 Range Avg = 110.00
Scenario 1: IF Bulls hold bid above 7982, THEN initial upside potential targets 8005 – 8015 zone.
Scenario 2: IF Bears hold offer below 7982, THEN initial downside objective targets 7964 – 7952 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
HOD ATR Range Projection: 8098.00; LOD ATR Range Projection: 7964.00; 3 Day Central Pivot: 77973.00; 3 Day Cycle Target: 8057.00; 10 Day Average True Range: 81.16; VIX: 12.50
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.
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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