PTG Daily Trade Strategy 1.17.17

Commentary, News, Technical Analysis
  Markets

Oil markets are going to stabilize this year, according to OPEC’s Secretary General. Speaking in Venezuela, Mohammed Barkindo also voiced optimism that OPEC economies will improve as a result of last year’s producer agreement. It comes after Saudi Arabia said the Kingdom is committed to cutting its output and is prepared to extend the supply deal if necessary.
In Asia, Japan -1.5%. Hong Kong +0.5%. China +0.2%. India -0.2%.
In Europe, at midday, London -0.4%. Paris -0.7%. Frankfurt -0.9%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.6%. Crude +1.3% to $53.07. Gold +1.8% to $1217.10.
Ten-year Treasury Yield -5 bps to 2.32%
 (Source: Seeking Alpha)
  Economic Calendar

   PTG Trading

Today is Cycle Day 2 (CD2)…Prior shortened holiday session was quiet as expected…Overnight trade action pushed price down to 2258 “key support” and has since bounced back higher to 2266.00 in pre-cash trade.
With Volatility Index (VIX) hovering near 12 and Average True Range (ATR 10) with a 14 handle, traders are chopping on the bit to get some price expansion.
Options Expiration is this week with biggest Strike Open Interest between 2250 – 2270, similar to last month.
Range Projections and Key Levels: March 2017 (H) Contract
HOD Range Projection = 2271.73; LOD Range Projection = 2253.27; Cycle Day 1 Low = 2265.00; 3 Day Central Pivot = 2265.75; 3 Day Cycle Target = 2283.79; 10 Day Average True Range = 14.23

***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 hold 2258 – 60 zone as support and force a push above 2268 – 70 zone to get shorts concerned.
Scenario 2: Violation and conversion back below 2258 – 60 zone places additional pressure on longs to liquidate.

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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