Trading Session Recap – December 6, 2024

Overview: Today’s trading session revolved around the market’s reaction to the Non-Farm Payroll (NFP) report, which fueled significant volatility and provided multiple trading opportunities across key instruments such as the E-mini S&P 500 (ES), Nasdaq futures (NQ), and crude oil. Traders leveraged Polaris Trading Group’s (PTG) methodologies to navigate the session successfully, hitting several predefined target zones.

Key Highlights:

1. Market Sentiment and Expectations:
   • Ahead of the session, traders noted an 85% chance of a Federal Reserve rate cut this month, up from 67% pre-NFP.
   • Early commentary set the stage for a bullish bias, with initial targets identified for key indices.
2. Non-Farm Payroll Impact:
   • The NFP report’s release triggered an immediate fulfillment of the 6090-6095 target zone on ES and the 21525 level on NQ.
   • PTG’s “Line in the Sand” (LIS) for the session was established at 6080, providing a critical benchmark for intraday positioning.
3. Intraday Trading Strategies:
   • Crude Oil: The Open Range Long setup achieved two targets right after the opening bell, demonstrating the effectiveness of PTG’s strategies.
   • Nasdaq Futures (NQ):
     • The Open Range Long trigger was activated and successfully hit all targets, with 21580 being a key milestone.
     • 
     • Traders were advised to maintain a long bias, avoiding short trades amidst strong upward momentum.
   • E-mini S&P 500 (ES):
     • The session saw a three-day rally target fulfilled, providing traders with a substantial payoff.
4. Trade Commentary:
   • PTGDavid highlighted the precision of the Daily Trade Strategy (DTS) in achieving its target zones consistently.
   • Key trades included a long position at 3410, which was completed with all targets met.
   •  
     • “PKB (Peekaboo) Short” setup provided additional opportunities as the market began to consolidate.

 

1. Session Observations:
   • By mid-morning, market activity slowed, prompting PTGDavid to stay on the sidelines, citing diminished trade edge.
   • The commentary emphasized the importance of discipline and avoiding overtrading in low-probability conditions.

•  

• The session showcased the efficacy of PTG’s structured approach, with multiple target zones achieved across instruments.
• Traders were reminded of the importance of adapting strategies to market conditions and maintaining discipline in quieter periods.

Summary: The December 6 session exemplified strategic execution, with predefined targets hit across major markets and a focus on disciplined trading. PTG’s methodologies once again proved their robustness, enabling traders to capitalize on the post-NFP volatility while navigating the session’s dynamics effectively.