Market Evaluation by PTGDavid – October 9, 2024
PTGDavid offered a complete and dynamic overview of the day’s market actions, with a concentrate on crude oil (CL), the S&P 500 (ES), and Nasdaq (NQ) futures. The morning session started with quiet consolidation above key help ranges, setting the stage for potential bullish momentum forward of the anticipated CPI report.
Key Highlights:
- Crude Oil (CL): PTGDavid recognized profitable quick trades within the CL open vary, with all decrease targets being fulfilled early within the session. Constant together with his projections, the crude market delivered on each days, reflecting precision in goal setting and execution.
- S&P 500 (ES) & Nasdaq (NQ): The broader indices noticed bulls achieve management, with PTGDavid noting the significance of the 5795 help zone for ES. He maintained a long-leaning bias, advocating shopping for on dips because the market consolidated and moved towards key resistance ranges.
- 3-Day Cycle Targets: In a testomony to the energy of his cyclical evaluation, PTGDavid confirmed the achievement of the 3-Day Cycle Targets for each ES and NQ, crediting the Taylor 3-Day Cycle Rule for its predictive reliability. His strategic insights additionally led to a profitable name choice play yielding a 3X return from the CD1 low.
- Afternoon Session: Following a brand new all-time excessive, PTGDavid famous the market’s consolidation above VWAP, with costs holding regular in anticipation of a optimistic CPI studying the subsequent day. He maintained a concentrate on lengthy positions, assured in continued bullish momentum.
Conclusion:
PTGDavid’s commentary all through the session was marked by tactical precision, underpinned by sturdy technical evaluation. His concentrate on key ranges, mixed with the efficient use of buying and selling cycles, ensured constant goal achievement and strategic positioning forward of pivotal market occasions. The day closed on a excessive word, setting a optimistic tone for the upcoming CPI report.
