PTG Daily Trade Strategy 2.17.17

Commentary, News, Technical Analysis

In Asia, Japan -0.6%. Hong Kong -0.3%. China -0.9%. India +0.6%.
In Europe, at midday, London +0.2%. Paris -0.8%. Frankfurt -0.2%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.1%. Crude -0.5% to $53.49. Gold flat at $1241.10.
Ten-year Treasury Yield -2 bps to 2.42%
 (Source: Seeking Alpha)
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   PTG Trading

Indexes finally found some meaningful supply as price was unable to sustain a higher bid…As such sellers found an opening to take profits.
Buyers did step-in near 2338 prior pivot and absorbed the early selling, settling at midpoint, notching a neutral consolidation day.
Today is Cycle Day 1 (CD1)…Normal is for some magnitude decline…Violation below 2338 would likely created more selling.
Options expiration and a long three-day holiday may have traders departing early for the ski slopes and warm sandy beaches.
Range Projections and Key Levels: March 2017 (H) Contract
HOD Range Projection = 2350.90; LOD Range Projection = 2333.60; Cycle Day 1 Low = 2322.17; 3 Day Central Pivot = 2340.00; 3 Day Cycle Target = 2359.34; 10 Day Average True Range = 13.90

***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: IF price clears and converts 2346 handle, THEN upside retest of PH (2350.75) for HOD Range Projection.
Scenario 2: Failure to convert 2346 to support and subsequent violation/conversion of 2338 to lower resistance gives bears an opening to press for 2333.60 LOD Range Projection.

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.

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