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 a new trading month, it's time to analyze the S&P Micro Futures using the Bob Kendall indicators. Given that July starts with a short holiday week due to the 4th of July, we can expect lower trading volumes and potential range-bound movements. Let's dive into the monthly and daily charts to outline support and resistance levels for the upcoming trading sessions. Monthly Chart Overview PPMs Analysis : PPM 1 and 2: Both are above their derivatives and remain in trend mode (>0.25), indicating strong long-term support. PPM 3: While still above trend mode, it is starting to pierce its second derivative, which could test its positive slope. Key Support Levels : 10MA: Long-term support at 5124. Weekly Chart Analysis The market grid is starting to flatten out, which suggests potential range-bound trading for the week. Support Levels: 10MA at 5418: This level provides strong weekly support and maintains a 0.62 level on PPM 1. S1 and S2: Strong support at 5501 and 5478...