Key Links:
Morning Session
-
Market Context: Transition into Cycle Day 2 (CD2) following a prior close near session highs. Typical CD2 expectations: back-and-fill price action with MATD rhythms dominating early trade.
-
Opening Play: Initial “sandbox” defined at 6410–6420 as the key early rhythm zone.
-
Observations: Slow, indecisive price action with balanced candle structure — equal-sized bodies and wicks indicating market hesitation.
-
Community Note: Traders discussed potential upside breakout contingent on clearing key book levels, notably SPX 6400 = ES 6427 correlation.
Midday Observations
-
Tone: “Uneventful” morning gave way to a slow grind lower during the lunch hours.
-
Price remained within morning-defined pivot zones, signaling buyer disinterest.
-
Key Support Test: Friday’s lower pivot zone 6405–6408 held temporarily as the bear scenario unfolded.
Bear Scenario Activation
-
PTG outlined a Bear Scenario: Sustained offers below 6415 ± targeting 6400–6395.
-
First significant technical interaction was with the Dynamic D-Level Money Box, producing a tag-and-reversal setup.
-
Image Reference: Dynamic D-Level Money Box – PTGDavid 2:57 PM
Afternoon Session & Close
-
Trading remained range-bound between Friday’s and today’s midpoints.
-
Volume levels remained sub-1 million contracts, reinforcing low-commitment summer trading conditions.
-
Market participants were in a holding pattern ahead of Wednesday’s CPI Report.
-
Late Action:
-
MOC Sell Imbalance of $1.3B provided downside momentum into the close.
-
Bears pressed advantage until price reached Gamma Guys VOL Trigger @ 6389, where a notable buy response emerged.
-
Additional References
-
Manny’s early morning chart screenshot: ONL Backtest
-
SpotGamma market commentary link shared: SpotGamma Post
Summary:
August 11th’s session embodied the “Dog Dayz of Summer” — a slow-paced CD2 with minimal volume commitment, punctuated by an orderly grind toward bear targets. Key intraday technical interactions included the 6405–6408 pivot defense, a Dynamic D-Level Money Box reversal, and a closing rebound from the 6389 VOL Trigger.