Market Overview & Key Developments
Today’s session was characterized by early volatility, key technical levels being tested, and continued bullish strength into the latter half of the day. PTGDavid provided real-time market insights, trade setups, and macroeconomic reactions, guiding traders through the session with a structured approach.
Morning Session: Volatility & Technical Triggers
- 8:30 – 9:30 AM: Initial market sentiment was cautious, with traders monitoring key levels. The Crude Oil OPR (Opening Price Range) signaled a short trigger early on but was later stopped out. Meanwhile, the Nasdaq (NQ) OPR signaled a long trade, setting the stage for bullish price action.
- 9:38 AM: The market fulfilled an Initial Lower Target Zone (TZ), confirming a bearish scenario below 6055, targeting 6025 – 6005.
- 10:01 AM: The U.S. JOLTS Job Openings report came in weaker than expected (7.6M vs. 8M forecast), potentially influencing broader market sentiment.
- 10:15 – 10:30 AM: Volatility Trigger Levels were identified for both Nasdaq (NQ) and S&P 500 (ES), with subsequent price reactions confirming their importance.
Midday Session: Market Stability & Bullish Confirmation
- 10:27 AM: The morning rally responded precisely at the lower target zone (6025 – 20), aligning with a prior session High Volume Node (HVN). This provided a strong buy response, reinforcing bullish sentiment.
- 10:35 AM: All OPR long targets for ES were met, confirming sustained upward momentum.
- 11:13 AM: PTGDavid noted a lack of major market-moving headlines (“No Trump Tape Bombs”), leading to a consolidation phase.
Afternoon Session: Continuation of the Bullish Trend
- 2:10 PM: After lunch, market structure continued to favor the bulls, with a long lean for the remainder of the day.
- 3:50 PM: The MOC (Market-On-Close) imbalance showed a Buy of 731M, leading to a final push into the close.
Earnings Reaction: Alphabet (GOOGL)
- 4:02 PM: Alphabet released its earnings, and the initial market reaction was a sell-off. This type of immediate price action is common, as investors digest earnings results, guidance, and market expectations.
Educational Takeaways
- Technical Levels & Market Structure
- Today’s session reinforced the importance of Opening Price Range (OPR), Volatility Triggers, and High Volume Nodes (HVNs) in understanding market direction. These levels help traders identify high-probability trade setups.
- Market Reactions to Economic Data
- The JOLTS report came in weaker than expected, but market reactions were muted. Understanding the macroeconomic backdrop helps traders anticipate potential volatility shifts.
- Order Flow & Institutional Activity
- The MOC Buy imbalance of 731M signaled strong institutional demand into the close. Recognizing these order flow dynamics provides insight into market sentiment.
- Earnings Reactions & Liquidity
- Alphabet’s post-market reaction serves as a reminder that earnings moves are often volatile and not always indicative of the longer-term trend.
Final Thoughts
Today’s trading session highlighted the significance of technical analysis, order flow, and macroeconomic influences. While early volatility tested key levels, bulls maintained control throughout the day, supported by institutional buying into the close. Traders who remained patient and followed structured trade setups were rewarded.