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...

In the wake of Christmas festivities, the trading desks came to life on the day after Christmas, offering an environment marked by subdued volatility yet ripe with opportunities for strategic plays. Let's dive into the narrative of the day, exploring the decision-making process and lessons learned in the realm of post-holiday trading. Setting the Stage: A Slow Morning Unfolds Before the market opened, the scene was set with price and PPMs meandering sideways to an upward trajectory. Absent the reach of significant R1 or S1 levels on the daily chart, and with hourly PPMs holding their positive slope, anticipation for substantial market movements was tempered. Market Open: A Spike and Strategic Pause As the clock struck 9:30, the market opened with a notable spike above moving averages. All three PPMs signaled intent, cutting through both of their derivatives, while PPM 1 and 2 reclaimed their positive slopes. PPM 3 projected above its positive slope, crafting a demand line. However,...