📌 Key Links
📰 Recap
Overnight trade kept ES bottled up inside DTS briefing edges, with the Line in the Sand set at 6415.
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Bull Scenario → A sustained bid above 6415 set sights on 6430–35.
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Bear Scenario → Below 6415, sellers eyed 6400–6395 (overnight low already printed 6395).
📊 Gamma Landscape:
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Zero Gamma pegged at 6377.
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Concentration around SPX 6400 → ES 6420 hinted upside push potential on a hold.
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Lower band risk sat at ES 6385–80, with bounce attempts expected if hit fast.
🧭 Structural Momentum (DTS): Selling rallies remained the favored play until buyers could reclaim prior daily high pivots. A retest of yesterday’s lows was on the table for “surety” before any sustainable rally could unfold.
⚡ Economic Data gave the tape some early jolts:
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Manufacturing PMI crushed expectations at 53.3 vs. 49.7 est.
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Services PMI steady at 55.4 vs. 54.2 est.
But after the whipsaw open, the market settled into what David called a “holding pattern – Think Me ahead of JPOW @ JHOLE.” Translation: sideways chop until Powell speaks.
🎯 Trader Notes
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Market opened whippy, confirming why many avoid the first hour.
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Discussions centered on cycle integrity, avoiding impulse trades, and leaning with the 89 CCI (POLR = Path of Least Resistance).
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The group riffed on hockey metaphors (“skate to the puck!”), INTJ personality quirks, and the eternal battle against the urge to fade everything.
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End of day vibe: Neutral Range Day, capped by a modest MOC Buy Imbalance of $647M.
🥋 Quote of the Day
“Knowing is not enough, we must APPLY. Willing is not enough, we must DO.” – Bruce Lee