PTGDavid started the morning with a quick greeting to the group, marking the start of the session as “Fryday.” He observed that the overnight session was relatively quiet, with price meandering around the pivot point at 5305. He then noted that the day marked the beginning of a new trading cycle — Day 1 — and highlighted that the previous cycle had achieved “Super Cycle” status with an impressive 588.25-point rally, representing a 542.86% performance.

Shortly after the open, David shared that the initial lean favored sellers, but he emphasized the importance of staying flexible. He uploaded a chart titled “Stay-Aligned” to reflect the morning setup.

Around 9:46 AM, there was a notable shift in sentiment as he called out a “bull lean” and confirmed that price had moved above the Opening Print Range and VWAP, indicating early strength from buyers.

 

As economic data began to roll in, David posted breaking news from the University of Michigan showing consumer sentiment came in significantly below expectations (50.8 vs. forecast 53.8, previous 57.0). He also relayed inflation expectations that were notably elevated. In reaction, David noted that there was no breakout yet and described price action as returning to the “Romulan Neutral Zone” — a reference to a state of indecision or balance.

Throughout the late morning, he pointed out that buyers were gaining a slight edge. As the session progressed into the lunch hour, David mentioned that the market remained uneventful and that he was stepping away for lunch.

At 12:32 PM, he returned with renewed excitement, observing that bonds were rallying and that stocks were following suit. He used phrases like “Wabbit Hunt” and “Puuuurfect Discount” to describe the ideal long entries setting up. A breakout from a consolidation pattern — the “Wedgie Breakout” — confirmed his earlier anticipation of an energy build-up.

By mid-afternoon, David described the session as a “ripper” and referenced a bull flag breakout. He gave a clear technical roadmap, stating that if price could hold a bid above 5300, the initial upside target was the 5405–5425 zone. This target was soon fulfilled. He emphasized the strength of the move, noting that bulls were unlikely to let traders in easily, nor let shorts escape without pain.

Later in the afternoon, as price retested the prior open range, he advised tightening stops on long positions. A pullback ensued, which he interpreted as a refresh for buyers. The market responded by driving higher again. David pointed out that the move was pushing toward DTS (Daily Trade Strategy) targets, and he reiterated the bullish scenario if price maintained above 5300.

Near the close, David emphasized that the bulls were battling to clear the psychological 5400 level. He posted several comments describing the market as being on the verge of an explosive final move, noting how short sellers might get drawn in and used as fuel for continued buying.

By the end of the day, he announced that the S&P 500 had risen 5.7% for the week — the best weekly performance since November 2023 — and shared that the Market-on-Close (MOC) imbalance was $2 billion to the buy side.

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Educational Takeaways:

• Cycle Awareness Matters: Tracking market cycles can help identify fresh opportunities and reset expectations.

• Pivot Points & VWAP Are Key Intraday Levels: Observing price behavior around these metrics can reveal sentiment shifts.

• Macro Data Moves Markets: Unexpected sentiment and inflation figures had immediate market implications.

• Consolidation Precedes Expansion: Sideways action can signal energy build-up — patience pays off.

• Watch for Market “Tells”: Correlated markets (e.g., bonds rallying) can hint at pending moves in equities.

• Psychological Levels (like 5400) Attract Attention: These levels often act as battlegrounds in late sessions.

• Posture Flexibility Is Essential: Staying nimble and adapting to unfolding market dynamics is crucial for survival and success.