CMENT Trading

As we approach the trading day on August 29, 2024, the S&P Micro Futures are reacting to the downside pressure following NVIDIA's earnings. With the market facing potential volatility, we turn to the Bob Kendall Indicators to identify key support and resistance levels that will guide our trading strategy for tomorrow. Weekly Chart Overview: Key Support Levels Given the downside momentum, the weekly chart provides crucial insights into where the market might find support: S2 Weekly (5551.25): Coincides with significant support just above the 10MA on the weekly chart, sitting at 5542. This area will be critical in determining whether the market can stabilize or if further downside is likely. S3 Weekly (5497.75): If the market continues to decline, this level comes into play as the next significant support. It aligns closely with S1 on the monthly chart at 5486.50, creating a strong support zone around 5497.75 - 5486.50. PPM 1 on Weekly : PPM 1 is signaling further downside, whi...

As we enter the trading day on August 27, 2024, the S&P Micro Futures are showing signs of potential consolidation after an impressive eight-day rally. Let’s dive into what the Bob Kendall Indicators are signaling and how we can use them to guide our trading decisions for tomorrow. Daily Chart Overview Looking at the daily chart, we notice that all four PPMs (Price Pressure Momentum) are beginning to turn down, testing their positive slopes. While this might seem concerning at first glance, it doesn’t necessarily signal an impending downturn. Instead, it suggests that we could see some tests of the corresponding moving averages, offering potential support levels. PPM 1 : Currently in trend mode with a reading of 0.30, which means it’s still offering strong support at the 10-day moving average, currently around 5602. This level is also near S1 weekly at 5603 and S2 at 5603, making it a critical support zone to watch. PPM 2 : Holding above its positive slope, with projections suggest...