Summary of PTGDavid’s Trading Room Postings on September 27, 2024:

The market activity for the day opened with neutral overnight action, where a lower probe held at 5795, aligning with the Cycle Day 1 Average Decline Target for a potential buy response.

Pre-market price reclaimed the Line in the Sand (LIS) at 5805 and tagged the initial upside target of 5815. This established a bullish bias as the day began, with 5805 serving as a key level for assessing risk.

Throughout the session, PTGDavid outlined critical market rhythms and strategy points:

• The early market displayed a neutral open with key trading levels between 5805 and 5815, forming the day’s initial “sandbox.”
• Buyers struggled to cleanly convert the 5815 level, but dips to 5805 were met with buy responses, indicating short-term support.
• A midday shift saw prices breaking below 5805, fulfilling downside targets at 5795 and eventually reaching the 5785 key support zone, which had been outlined in the Daily Trade Strategy.

Afternoon sell programs pushed price towards the lower edge of the target zone at 5785, a critical level for bulls to defend. Despite a brief lean towards the long side in the final part of the session, the market settled lower at 5789.25, suggesting that sellers retained control into the close.

Key takeaways:

• 5805 LIS was pivotal, serving as a clear demarcation for bullish and bearish momentum.
• The session’s core downside targets were met as price moved from 5805 to 5785.
• The close near key support at 5785 will likely be a focal point for determining future market direction.

PTGDavid’s real-time insights and tactical approach provided clear, actionable levels throughout the session, particularly around the 5805-5815 range and the key 5785 support level.