Markets
In Asia, Japan flat. Hong Kong -0.4%. China +0.2%. India -1.7%.
In Europe, at midday, London flat. Paris -0.4%. Frankfurt -0.3%.
Futures at 6:20, Dow -0.8%. S&P -0.7%. Nasdaq -0.9%. Crude -1.1% to $54.52. Gold +0.7% to $1540.20. Bitcoin +5.7% to $10348.
Ten-year Treasury Yield -3 bps to 1.48
Source: Seeking Alpha https://seekingalpha.com
Economic Calendar https://www.investing.com/economic-calendar/
9:45PMI Manufacturing Index
10:00ISM Manufacturing Index
10:00Construction Spending
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…Prior Holiday Session was a Cycle Day 1 and the Low (2889) was put in-place first. We’ll use this level for today’s “risk-marker” as traders return from summer break. Bulls need to convert 2925 – 2930 zone to solid upper support to gain renewed traction.
New trading month equals new opportunities. Stay focused on your “process-goals”.
*****ANNOUNCEMENT: PTG Trader Tool Box Indicator & Strategy Suite is now available for NinjaTrader 8 trading platform.
*****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 = 2918 CD2 Range Low = 2891 CD2 Range Avg = 41.50
Scenario 1: IF Bulls hold bid above 2905, THEN initial upside potential targets 2913 – 2918 zone.
Scenario 2: IF Bears hold offer below 2905, THEN initial downside objective targets 2895 – 2890 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
HOD ATR Range Projection: 2934.00; LOD ATR Range Projection: 2875.00; 3 Day Central Pivot: 2915.00; 3 Day Cycle Target: 2930.00; 10 Day Average True Range 40.00: VIX: 20.65
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently above CD1 Low (7580.75) which will be “risk-marker” to begin the session. Bulls need to convert 7665 handle to upper support.
CD2 Range High = 7652 CD2 Range Low = 7605 CD2 Range Avg = 139.00
Scenario 1: IF Bulls hold bid above 7635, THEN initial upside potential targets 7643 – 7653 zone.
Scenario 2: IF Bears hold offer below 7635, THEN initial downside objective targets 7606 – 7585 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
HOD ATR Range Projection: 7719.00; LOD ATR Range Projection: 7538.00; 3 Day Central Pivot: 7662.00; 3 Day Cycle Target: 7724.00; 10 Day Average True Range: 126.00; VIX: 20.65
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.
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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