KEY LINKS:
Trader Wisdom Quote of the Day:
“I have no control over the trade outcomes. I can only control the orders I enter — the orders MUST COMPLY with specific CRITERIA and RULES for entering and exiting trades.”
Morning Session
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Opening trade featured wide-bodied indecision candles, creating early chop: “Chop Salad with no dressing”.
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Key pivot level identified at 6453 (PL) with traders noting flat VWAP/EMAs and lack of clear directional momentum.
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Macro Data: US CB Consumer Confidence came in slightly better-than-expected at 97.4 (Forecast 96.5, Previous 97.2).
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Early price action consolidated between 6437 support and 6460 resistance.
Midday Session
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Market consolidated around the 6455 Line in the Sand (LIS).
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Bull Scenario: Hold above 6455 with upside targets 6465–6470.
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Bear Scenario: Fail below 6455 with downside targets 6440–6435.
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Traders took a break awaiting the 2 PM “Shake n Bake” move.
Afternoon Session
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Precision upside targets achieved:
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🎯 6465 target hit with ultra precision
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🎯 6470 squeeze fulfilled
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Strong short-covering rally and Gamma Squeeze ripper into the close.
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Market On Close (MOC) imbalance surged from +$1B to +$1.7B buy side
Closing Highlights
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End of day rally tagged 6485.
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Multiple participants noted the “Best rally all day” driven by forced short covering in SPX 6455 calls.
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Recap sentiment: Patience paid off — as one trader put it:
“As the day goes on the read gets clearer, there will be a good trade in here at some point.” ✅
✅ Summary:
August 26th delivered a measured morning chop, a disciplined consolidation around LIS 6455, and finally a late-session gamma-fueled squeeze that powered ES to 6485. Precision targets were met, with bulls commanding the afternoon surge.