Here’s a summary of PTGDavid’s key points throughout the chat:
- Opening Market Commentary:
- Noted the initial ES Open Range as being between 5862 and 5872, with a muted opening.
- Mentioned the market was neutral in the first 30 minutes, waiting for a directional bias to develop.
- Mid-Morning Update:
- Observed the market starting to push higher above the Open Range high (5872) but stated bulls needed to sustain this bid for momentum.
- Commented on market internals turning negative and financials being the weakest sector.
- Mentioned a price “chop zone” where the market was trading within a narrow range, lacking significant movement.
- Afternoon Session:
- After returning from lunch, reported that bulls held control and pushed the price up to 5895, the Line in the Sand for the day, filling the gap.
- Described a stealthy breakout, where bulls lured shorts in, only to then rally the market.
- Observed the pattern of smashing down weak longs and trapping aggressive shorts before bulls rip higher.
- Technical Analysis:
- Noted that key levels like the Open Range Midpoint and VWAP were crucial for the bulls, and that these levels had been cleared.
- Explained that the Value Area Rule had been fulfilled after price reached certain thresholds.
- End-of-Day Observations:
- Mentioned a $1.1B sell imbalance going into the close, but bulls managed to maintain the bid before slipping at the very end.
PTGDavid’s posts mainly focus on key market levels, technical indicators, and his interpretation of market movements throughout the day.