PTG Daily Trade Strategy 1.11.17

Commentary, News, Technical Analysis

There will be “trouble for equity markets” if the yield on the 10-year U.S. Treasury note moves beyond 3%, warned Jeffrey Gundlach, while another bond king stated 2.6% was the key level to watch. According to Bill Gross, the number is much more important than Dow 20K, the price of oil or dollar strength, as it would signal a bear bond market. The 10-year yield last stood at 2.38%.
In Asia, Japan +0.3%. Hong Kong +0.8%. China -0.8%. India +0.9%.
In Europe, at midday, London +0.1%. Paris +0.1%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq +0.1%. Crude +0.7% to $51.17. Gold +0.4% to $1189.70.
Ten-year Treasury Yield flat at 2.38%
 (Source: Seeking Alpha)
  Economic Calendar

   PTG Trading

Indexes held early test of 2260 “key support” which produced a nice rally reaching 2274.00 High of Day Range Projection outlined in prior  DTS Briefing 1.10.17.
Today is Cycle Day 1 (CD1)…Upside range has been satisfied, hence a normal CD1 Decline can begin should 2260 handle be violated and converted to lower resistance. Average Decline Target measures 2251.75.
Range Projections and Key Levels: March 2017 (H) Contract
HOD Range Projection = 2275.57; LOD Range Projection = 2249.68; Cycle Day 1 Low = 2258.25; 3 Day Central Pivot = 2267.50; 3 Day Cycle Target = 2282.90; 10 Day Average True Range = 15.82

***Note: The odds highlighted are NOT predictions or trade recommendation rather a guide based upon historical observed occurrences.
TargetMaster STATX
   Today’s Hypotheses: March 2017 (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.

Bull _ Bear Scenarios
Scenario 1: Bulls will need to clear and convert 2268 handle to upper support to turn the current downswing momentum.
Scenario 2: Bears need a decisive violation and conversion of 2260 SPOT to lower resistance which opens door to press lower and force trapped long liquidation.

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.”

 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.

MrTopStep Group


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