U.S. stock index futures are continuing a pre-Labor Day rally, with the DJIA up by 228 points, as China indicated it wouldn’t immediately retaliate against the latest U.S. tariff increases set for Sept. 1.
In Asia, Japan -0.1%. Hong Kong +0.3%. China -0.1%. India -1%.
In Europe, at midday, London +1.2%. Paris +1.5%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.9%. S&P +0.8%. Nasdaq +1.1%. Crude +0.6% to $56.06. Gold -0.2%to $1546.10. Bitcoin -6.6% to $9473.
Ten-year Treasury Yield +3 bps to 1.47%
Source: Seeking Alpha https://seekingalpha.com
Economic Calendar https://www.investing.com/economic-calendar/
8:30Initial Jobless Claims
8:30International Trade in Goods
8:30Retail Inventories (Advance)
8:30Wholesale Inventories (Advance)
10:00Pending Home Sales
10:30EIA Natural Gas Inventory
1:00 PMResults of $32B, 7-Year Note Auction
4:30 PMMoney Supply
4:30 PMFed Balance Sheet
***PTG Trading Room Chat Log’s Link
Today is Cycle Day 2 (CD2)…Prior Session was a Cycle Day 1 and the Low was put in-place first. As such, this cycle’s rally began in earnest with price closing in upper portion of session’s range. This set the bullish scenario for additional gains rolling into Globex Session and today’s Cycle Day 2 Session.
Quiet NKD/SSE Sessions lead to an explosive EUR open rally which has carried price to ATR (10) Range Levels.
*****The 3 Day Cycle Spreadsheet which subscribers receive shortly after market close for next trading session contains all the projected range targets. Here is link to web page to learn more: https://polaristradinggroup.com/ptg-3-day-cycle/
CD2 Range High = 2915 CD2 Range Low = 2895 CD2 Range Avg = 40.50
Scenario 1: IF Bulls hold bid above 2908, THEN initial upside potential targets 2915 – 2920 zone.
Scenario 2: IF Bears hold offer below 2908, THEN initial downside objective targets 2905 – 2900 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
HOD ATR Range Projection: 2920.00; LOD ATR Range Projection: 2875.00; 3 Day Central Pivot: 2870; 3 Day Cycle Target: 2880.00; 10 Day Average True Range 45.00: VIX: 18.36
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price has rallied during overnight trade fulfilling 7685 3 Day Cycle Target.
CD2 Range High = 7685 CD2 Range Low = 7645 CD2 Range Avg = 136.00
Scenario 1: IF Bulls hold bid above 7665, THEN initial upside potential targets 7685 – 7695 Cycle Target Zone.
Scenario 2: IF Bears hold offer below 7665, THEN initial downside objective targets 7630 – 7620 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
HOD ATR Range Projection: 7684.00; LOD ATR Range Projection: 7568.00; 3 Day Central Pivot: 7557.00; 3 Day Cycle Target: 7685.00; 10 Day Average True Range: 135.00; VIX: 18.36
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
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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