Economic Calendar 

7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:30 Treasury Refunding Quarterly Announcement
10:30 EIA Petroleum Inventories
3:30 Fed’s Williams: Monetary Policy

PTG Trading

Not much additional color we can add to S&P e-mini (ES) that has not already been stated. Price is on edge of a potentially explosive move higher…BUT…price is being “capped” at 2474. Lower support at 2466 remains intact, though a violation could tumble price lower as well…It’s been a tough trade in ES lately for both bulls n bears. 

In the Nasdaq (NQ) arena, it’s all about Tech Earnings and with Apple Computer surging higher overnight, momentum players are focused there.

Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline, though direction lately has been elusive either way. Downside objective should a decline unfold is 2461.73.

STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.

 Range Projections and Key Levels

HOD  ATR Range Projection: 2483.20; LOD ATR Range Projection: 2465.30; Cycle Day 1 Low: 2461.50; 3 Day Central Pivot: 2470.00; 3 Day Cycle Target: 2483.50; 10 Day Average True Range: 10.70

**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 price clears and converts 2474 to upper support, THEN upside expansion targets 2482 – 84 zone, followed by 2486 – 87.

Scenario 2:  IF price violates and converts 2466 to lower resistance, THEN downside expansion targets 2463 – 61 zone.

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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