Markets
The U.S. jobs report will be the big headline this morning, yielding clues about the health of the world’s largest economy and upcoming policy decisions. Economists expect 160,000 jobs were added during August, after advancing 164,000 in July, while the unemployment rate likely remained unchanged at 3.7% for a third straight month. The gains would be below the monthly average of 165,000 over the last seven months, but still way above the roughly 100,000 per month needed to keep up with growth in the working age population. U.S. stock index futures are up 0.3% ahead of the data, holding on to this week’s big advance.
In Asia, Japan +0.5%. Hong Kong +0.7%. China +0.5%. India +1%.
In Europe, at midday, London +0.1%. Paris +0.3%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.4%. Crude +0.1% to $56.34. Gold -0.7% to $1514.40. Bitcoin +1.4% to $10714.
Ten-year Treasury Yield +3 bps to 1.59%
Source: Seeking Alpha https://seekingalpha.com
Economic Calendar
8:30Non-farm payrolls
10:00Quarterly Services Report
12:30 PMJerome Powell: Economic Outlook and Monetary Policy
1:00 PMBaker-Hughes Rig Count
https://www.investing.com/economic-calendar/
***PTG Trading Room Chat Log’s Link
S&P 500
Today is Cycle Day 2 (CD2)…Price continues to have a firm underlying bid as this cycle’s rally has met and exceeded initial objectives. Further gains target 2988.50…2994.50 – 3002 zone.
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*****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 = 2994.50 CD2 Range Low = 2961.00 CD2 Range Avg = 41.50
Scenario 1: IF Bulls hold bid above 2980, THEN initial upside potential targets 2986.50 – 2988.50 zone.
Scenario 2: IF Bears hold offer below 2980, THEN initial downside objective targets 2975 – 2970 zone.
Range Projections and Key Levels (ES) September 2019 (U) Contract
HOD ATR Range Projection: 3009.00; LOD ATR Range Projection: 2947.00; 3 Day Central Pivot: 2932.00; 3 Day Cycle Target: 2988.50; 10 Day Average True Range 38.50: VIX: 15.77
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price continues to have an underlying firm bid above previous close (7850.25). Further upside targets measure 7898…7910.
CD2 Range High = 7910 CD2 Range Low = 7834 CD2 Range Avg = 139.00
Scenario 1: IF Bulls hold bid above 7870, THEN initial upside potential targets 7898 – 7910 zone.
Scenario 2: IF Bears hold offer below 7870, THEN initial downside objective targets 7860 – 7850 zone.
Range Projections and Key Levels (NQ) September 2019 (U) Contract
HOD ATR Range Projection: 7979.00; LOD ATR Range Projection: 7765.00; 3 Day Central Pivot: 7710.00; 3 Day Cycle Target: 7898.00; 10 Day Average True Range: 127.00; VIX: 15.77
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