U.S. futures are hugging the flatline as investors debate whether recent bullish sentiment will continue ahead of tomorrow’s U.S. jobs report. “We think the market is still overvalued at current levels and expect it to resume its decline shortly,” said Chuck Self, chief investment officer at iSectors. Other market watchers feel differently. “I’ve been encouraged by the economic numbers,” declared Gary Bradshaw, portfolio manager of Hodges Capital Management.
In Asia, Japan +1.3% to 16960. Hong Kong -0.3% to 19941. China +0.4% to 2860. India +1.5% to 24607. In Europe, at midday, London +0.2%. Paris -0.3%. Frankfurt -0.2%. Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.1%. Crude +0.1% to $34.71. Gold +0.2% to $1243.70. Ten-year Treasury Yield flat at 1.85%
(Source: Seeking Alpha)
Economic Calendar
Click to View Calendar
Chain Store Sales 7:30 Challenger Job-Cut Report 8:30 Initial Jobless Claims 8:30 Productivity and Costs 8:30 Gallup Good Jobs Rate 9:45 PMI Services Index 9:45 Bloomberg Consumer Comfort Index 10:00 Factory Orders 10:00 ISM Non-Manufacturing Index 10:30 EIA Natural Gas Inventory 10:45 Fed’s Kaplan: Monetary Policy 4:30 Money Supply 4:30 Fed Balance Sheet
PTG Trading
As expected, price did decline yesterday though shallow, as range was relatively narrow (18.50) compared to 10 Day Average True Range of 27.00 handles. We will classify this action as bullish consolidation with potential to push higher targeting 2005.50 for this Cycle.
Today is Cycle Day 2 (CD2)…NEUTRAL SPILL…Overnight trade has price marginally higher touching 1987.00 STATX Zone. Price is holding above 1977.75 Central Pivot. Continued bullish action would be to hold above this level and convert 1987.00. Key support zone is marked between 1966.00- 1968.00.
Range Projections and Key Levels:
HOD Range Projection = 2005.50; LOD Range Projection = 1960.75; CD2 Maximum Penetration Level = 1996.17; CD2 Maximum Violation Level = 1941.86; Cycle Day 1 Low = 1966.25; 3 Day Central Pivot = 1958.00; 3 Day Cycle Target = 1997.71; 10 Day Average True Range = 27.00.
Algorithmic Creed: “Shake’em…Bake’em…Strip’em and Rip’em”…This is simply the new trading world order we live in folks…So get used to it…Gotta “Think Like an Algo”.
***Note: The odds highlighted are NOT predictions or trade recommendation rather a guide based upon historical observed occurrences.
TargetMaster STAT X Zone
Today’s Hypotheses: March 2016 (H) 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. We will identify specific trade levels in Trading Room.
Scenario 1: IF price holds above 1977.75 , THEN clears and converts 1987.00, upside objective measures 1996.71 – 1997.71, followed by 2001.25.
Scenario 2: IF price violates and convert 1977.75 – 1975.50, THEN downside objective is for a test of 1966.25 Cycle Day 1 Low. Failure to hold targets 1960.75 – 1958.00 3 Day Central Pivot 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. 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. PTG Website (PTG) and/or PTG Daily Trade Strategy (DTS) is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on PTG Website or DTS. The past performance of any trading system or methodology is not necessarily indicative of future results.
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– 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.
