PTG Daily Trade Strategy 4.25.16

Commentary, News, Technical Analysis

Saudi Arabia is today due to unveil “Saudi Vision 2030,” a plan to overhaul the kingdom’s economy in order to reduce its massive reliance on oil revenues, which account for 80% of its income but are taking a battering amidst the plunge in oil prices. Prince Mohammed bin Salman, who at 31 has amassed much power in his young hands, intends to create the world’s largest sovereign-wealth fund with over $2T in diversified assets and to sell under 5% in state oil monopoly Saudi Aramco in an IPO.
In Asia, Japan -0.8% to 17,439. Hong Kong -0.8% to 21,304. China -0.4% to 9,617. India -0.6% to 25,679.
In Europe, at midday, London -0.3%. Paris -0.4%. Frankfurt -0.7%.
Futures at 6:20, Dow +0.1%. S&P flat. Nasdaq -0.8%. Crude -1.2% to $43.19. Gold +0.3% to $1234.
Ten-year Treasury Yield – 1 bps to 1.875%
(Source: Seeking Alpha)
  Economic Calendar

Click to View Calendar
10:00 New Home Sales
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $26B, 2-Year Note Auction
   PTG Trading

S&P Futures (ES) found resistance early as price failed to convert Key Daily Pivot (2088.75). As such, decline which begin in prior session continued with multiple tests of CD3 Max Violation Level (2076.00).  Cycle Day 1 Low is now marked at 2075.00.
Today is Cycle Day 2 (CD2)…NEUTRAL…In overnight trade price retested 2088 – 2090 and was rejected…only to retest 2076 – 2075 Cycle Day 1 Low and rejected. Expectation for today’s trade is for more non-directional trade as Bulls and Bears battle for control.
Range Projections and Key Levels: June (M) Contract
HOD Range Projection = 2091.02; LOD Range Projection = 2074.40; CD2 Maximum Penetration Level = 2101.42; CD2 Maximum Violation Level = 2055.58; Cycle Day 1 Low = 2075.00; 3 Day Central Pivot = 2089.25;  3 Day Cycle Target = 2099.96; 10 Day Average True Range = 17.02.
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.
3 Day Cycle Chart
   Today’s Hypotheses: June (M) 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 clears and convert 2090 – 2092 zone, THEN upside projects 2096.50 SPOT followed by 2100.00.
Scenario 2: Violation and conversion of Cycle Day 1 Low (2075.00) opens trap door forcing selling targeting 2068.50 followed by 2063.50 – 2060.50 STATX 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.”

 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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