🔗 Key Links
📰 Market Action
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Opening Shockwave – September opened with volatility: Nasdaq and S&P futures nosedived, pulling down the Mag 7 (NVDA -2.3%, AMZN -1.4%, META -1.2%, GOOGL -1.2%, TSLA -1.3%, MSFT -0.8%, AAPL -0.6%).
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Technical Breakdown – ES broke below 6416.5 (SPX 6400), activating downside targets 6391.5 (SPX 6375) and 6366.5 (SPX 6350). Longs were only valid if price reclaimed above 6416.5.
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Cycles & Gamma – Traders debated cycle day alignment (CD3 confirmed) and gamma levels. PTG noted: “All cycle levels are blown out.”
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Key Intraday Zones – PTG highlighted battleground levels at 6430…6365…6325…6240, with early “sandbox” action between 6385–6405.
🎯 Trade Highlights
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Morning Sell Pressure – Shorts dominated early, driving ES lower while bulls struggled to defend.
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Bull Soap-Slip Moment – PTG quipped: “Bulls slipping on the soap early” 🧼🐂 (image shared).
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Reversal Attempts – By mid-morning, PTG flipped to the buy side after reclaim setups. Manny noted liking the “new vol regime” after a tough August.
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Energy & Crude Action – @CL Open Range Long hit all targets by early afternoon. Stops were trailed successfully to lock profits.
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Starling Pattern – David introduced this metaphor: “Everyone rushes in to buy, then rushes out to sell, chasing the front starling bird.”
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Afternoon Grind – Market worked back from the lows, supported by an MOC Buy Imbalance of $6.4B. Mutual Fund Tuesday flows provided liquidity and fueled a late-day recovery.
🔑 Cycle Note
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CD3 Failure Alert – Cycle Day 3 failed to recover CD1 Low (6455.50), which statistically occurs only 9% of the time.
📌 Takeaway
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The morning sell-off cleaned out weak hands.
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Afternoon liquidity flows (retirement + mutual fund inflows) helped bulls regain control.
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Plenty of stacked trade opportunities surfaced intraday, rewarding patience and adaptability.