Market Overview and Early Session Developments: The trading day opened with PTGDavid noting neutral overnight activity, setting the stage for strategic positioning. Shortly after, he highlighted a bullish scenario, with Crude Oil (CL) seeing a long setup. The Nasdaq (NQ) began to develop long bias within the opening range, and he provided clear guidance for upward targets.
Key Price Action and Target Hits: At 9:37 AM, PTGDavid projected a bullish scenario with the first key target zone between 5770 and 5775. By 9:39 AM, the target was hit “to the tick,” affirming the strength of the market’s momentum.
Early buyers were advised to stay aligned with the bullish trend, reinforced by significant volume clusters and the notion of a “sandbox” range between 5763 and 5773. By 9:49 AM, further targets were fulfilled at 5775, illustrating the precision of PTGDavid’s projections.
Momentum and Continued Bullish Drive: The upward momentum persisted, with dip buying strategies highlighted as effective, and the next targets set around 5790.
A decisive stop run at 10:00 AM led to the successful achievement of PTGDavid’s Penetration Target. The market remained bullish, with the “Money Box” target zone fulfilled later in the morning session.
Adjustments and Structural Observations: PTGDavid adjusted his defined sandbox range multiple times to reflect evolving market dynamics, settling at 5780 to 5800. The day’s bullish bias held firm, with no indication to pursue short positions, as reiterated around 10:23 AM.
By early afternoon, additional targets were reached, culminating with the milestone of 5810 being fulfilled by 1:34 PM, followed by a slight pullback and trailing stops.
Afternoon Reflection and Closing Sentiment: Heading into the final hour, PTGDavid prepared for potential end-of-day volatility, noting a pullback holding above the RTH VWAP. He hinted at the possibility of overnight activity driven by election results.
The day concluded with a strong closing bid, as price settled on the high of the day, fulfilling the ambitious three-day cycle target at 5822.
Summary: Throughout the session, PTGDavid’s meticulous updates and strategic insights provided a clear, actionable framework. His bullish stance was well-aligned with the day’s price action, achieving target after target, emphasizing market structure, and offering timely adjustments.