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/
1:00 PMBaker-Hughes Rig Count
***PTG Trading Room Chat Log’s Link
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!
“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
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