PTGDavid provided detailed market updates and trading insights throughout the morning session, focused on both technical analysis and broader market conditions. Below is a structured recap of key points from his commentary:
Market Overview and Key Targets
- Early Session:
- At 4:33 AM, PTGDavid confirmed the fulfillment of the 6070 lower target zone, as outlined in the DTS briefing.
- The bearish scenario for price action below 6090 targeted the 6070–6065 zone, successfully achieved.
- NASDAQ (NQ):
- At 8:58 AM, the lower target zone for NQ was fulfilled, with price sustaining below 21980 and hitting the 21892–21862 target range.
Morning Session Analysis
- Structural Levels:
- At 9:07 AM, price was noted to be testing the prior CD1 Low. Traders were advised to watch for a potential PKB (pullback breakout) structure.
- By 9:48 AM, a buy response was developing between 6042–6055, creating an initial sandbox for long opportunities.
- Statistical Levels:
- At 10:05 AM, the potential CD2 Low was identified between 6020.75–6025.25, with a violation zone for lower targets.
- At 10:34 AM, CD2’s statistical lower target was set at 5998, with subsequent levels holding well and signaling a potential bull structural shift.
Strategy Guidance
- PTGDavid maintained a short-side focus, emphasizing that bounces should be considered sell opportunities until a bullish structural shift occurred.
- At 10:52 AM, a bullish A4 structural shift was identified, providing the first pullback long opportunity.
Broader Market Context
- Highlighted the theme of end-of-year risk-off behavior, with steady long liquidation dominating the session.
Community Engagement and Updates
- PTGDavid shared charts and trading insights throughout the session and encouraged traders to add setups to their playbooks.
- Noted his upcoming absence for a long weekend, with plans to return to full sessions on January 6, 2025.
Key Takeaways
- Traders were advised to stay attentive to key statistical and structural levels, including 5998–6000 for potential buy responses.
- The 3-Day Cycle and DTS briefings were referenced as tools for anticipating market behavior.
PTGDavid concluded the session with well wishes for the community and plans for a relaxing weekend, highlighting the importance of balance in a trader’s lifestyle.