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There were so many headlines it was impossible to keep up:

• Target rallied to a 52-week high.

• Lowe's rose 2%.

• Bitcoin rose above 68,000 ahead of a meeting between crypto industry leaders and President Trump at the White House.

• Moderna soared 177% after their experimental mRNA-based melanoma vaccine succeeded.

• The DXY fell.

• Long-term Treasury yields pulled back sharply after the government said it would buy back more longer-dated bonds.

• Crude oil rose over 1%.

• The Fed minutes showed only 3 of 12 members voted to increase interest rates.

• Iran threatens Europe.

• North Korea rejects Trump's South Korea drill cuts.

• Last but surely not least, the US debt rose above $40 trillion.

The ES traded in a 7698.25 to 7758.25 Globex trading range and opened Wednesday’s 9:30 ET regular session at 7743.50, up 29.50 points, or +0.38%, from the 7714.00 prior settlement.

After the open, the ES sold off 22.75 points down to 7720.75 at 9:45, rallied 32.50 points up to the 7753.25 initial-balance high at 10:30, back-and-filled, and then extended another 11.50 points to the session high at 7764.75 at 11:00. It sold off 21.25 points down to 7743.50 (opening print) and then sold off down to 7739.75. It rallied 20.00 points up to a lower high at 7759.75 at 12:15, then sold off 30.00 points down to 7729.75 at 1:15. It rallied 15.25 points up to 7745.00 at 2:00, then sold off 23.25 points down to 7721.75 at 3:45. It traded 7727.25 as the 3:50 imbalance showed $1 billion to sell and traded 7731.25 on the 4:00 cash close.

After 4:00, the ES traded 7731.50 and settled at 7729.00, up 15 points, or +0.19%. The NQ settled at 29,512.75, down 73.25 points, or -0.25%; the YM settled at 53,530, up 127 points, or +0.24%; and the RTY settled at 3039.90, up 13.50 points, or +0.45% on the day.

In the end, there was a lot of two-way thrashing. In terms of the ES’s overall tone, it acted firm, but there was something for both the bulls and bears. In terms of the ES’s overall trade, volume was higher at 1.38 million contracts traded.

There were so many headlines it was impossible to keep up: Target rallied to a 52-week high, Lowe's rose 2%, Bitcoin rose above 68,000 ahead of a meeting between crypto industry leaders and President Trump at the White House, Moderna soared 177% after their experimental mRNA-based melanoma vaccine succeeded, the DXY fell, long-term Treasury yields pulled back sharply after the government said it would buy back more longer-dated bonds, crude oil rose over 1%, the Fed minutes showed only 3 of 12 members voted to increase interest rates, Iran threatens Europe, North Korea rejects Trump's South Korea drill cuts, and last but surely not least, the US debt rose above $40 trillion.

MiM

MOC Recap: Nasdaq Selling Turns Into Broad Closing Pressure

The MOC opened at 15:51 with a clear sell imbalance of $1.6B, as $2.6B in buy orders faced $4.2B in sells. The overall dollar lean was -61.9% while the symbol lean was -53.4%, showing meaningful selling but still a fairly rotational market underneath the headline number.

The Nasdaq was the exception. It opened with a $1.2B sell imbalance and leans of -69.2% by dollars and -70.0% by symbols. Both readings exceeded the -66% threshold, signaling a much more wholesale sell program rather than simple rotation. The S&P 500 was also heavy at -$1.6B, although its -63.3% dollar lean and -54.5% symbol lean were less extreme.

The imbalance initially improved to -$1.2B at 15:52, then slipped back toward -$1.9B by 15:54. After briefly recovering to -$1.0B at 15:55, selling accelerated sharply. The imbalance expanded to -$2.9B at 15:56 and peaked at -$3.1B at 15:57, with dollar leans reaching -74.0% and -76.1%. By 16:00, the imbalance had contracted to -$1.2B, but the closing dollar lean intensified to -83.9% and the symbol lean reached -67.0%, confirming broad-based selling into the print.

Technology absorbed the largest sector pressure, finishing -$826.9M with a notable -67.8% dollar lean. Financials followed at -$230.6M, while Health Care lost $166.9M. Materials showed an especially aggressive -85.6% dollar lean. Real Estate stood out positively at +$55.7M with a +66.5% dollar lean, although its negative symbol breadth suggested concentrated buying.

NVDA led individual sell imbalances at $542.2M, followed by CSCO, MU, SNDK, XOM and META. On the buy side, AVGO led at $195.5M, followed by CHTR, V, MSTR, MSFT and PLTR.

How to read the MiM

Daily Breadth Data 📊

For Wednesday, August 19, 2026

• NYSE Breadth: 67% Upside Volume

• Nasdaq Breadth: 64% Upside Volume

• Total Breadth: 65% Upside Volume

• NYSE Advance/Decline: 64% Advance

• Nasdaq Advance/Decline: 58% Advance

• Total Advance/Decline: 60% Advance

• NYSE New Highs/New Lows: 85 / 56

• Nasdaq New Highs/New Lows: 214 / 131

• NYSE TRIN: 0.86

• Nasdaq TRIN: 0.81

Weekly Breadth Data 📈

For the Week Ending Friday, August 14, 2026

• NYSE Breadth: 55% Upside Volume

• Nasdaq Breadth: 59% Upside Volume

• Total Breadth: 58% Upside Volume

• NYSE Advance/Decline: 52% Advance

• Nasdaq Advance/Decline: 57% Advance

• Total Advance/Decline: 56% Advance

• NYSE New Highs/New Lows: 250 / 172

• Nasdaq New Highs/New Lows: 651 / 354

• NYSE TRIN: 0.88

• Nasdaq TRIN: 0.94

Today’s Economic Calendar

PTG Room Summary – For Wednesday, August 19, 2026

Yesterday’s session was a strong example of following the pre-market plan, respecting statistical probabilities, and recognizing when the best opportunity had already passed. David’s bullish framework played out especially well during the morning, with both ES and NQ reaching key upside objectives before conditions became choppier later in the day.

Pre-Market Setup

• Cycle Day 3 carried a 92.92% historical probability of a positive three-day cycle.

• ES was trading below the 7763.50 Cycle Day 1 low, so bulls still had work to do.

• The key ES Line in the Sand was 7715.

• Positive gamma conditions supported the possibility of a stabilized grind higher.

• Major upside targets were 7725, 7735, and 7745.

• Overnight, buyers responded from PTG’s 7702 D-Level and pushed price back toward 7725.

Morning Session

• The bullish script began working almost immediately.

• ES reached 7725, then 7735, and then 7745 in sequence.

• David identified the 7740 area as an important pullback level, closely aligned with the previous midpoint and prior week’s low.

• The market continued higher toward the larger Cycle Day objective.

• Around 11:00 AM, ES reclaimed the 7763.50 Cycle Day 1 low, completing the major bullish objective for the session.

NQ Performance

• The NQ bullish script called for buyers to maintain control above 29565 ±10.

• Upside objectives included 29610, 29640, and 29700.

• The key 29700 target was fulfilled during the morning.

• This reinforced the broader bullish tone across the equity index futures.

Positive Trades and Highlights

• ES 7725 target achieved.

• ES 7735 target achieved.

• ES 7745 target achieved.

• ES 7763.50 Cycle Day 1 low reclaimed.

• NQ 29700 target fulfilled.

• The strongest opportunities came during the cleaner directional morning session.

Afternoon Conditions

• By the afternoon, price had moved into chop around VWAP.

• David noted that the best trades had already occurred during the morning.

• The market no longer offered a clean directional edge.

• Members also recognized the danger of holding trades too long in an up-down environment where repeated reversals could quickly damage otherwise good trades.

Lessons Learned

• Probability is not certainty. The 92.92% Cycle Day statistic was treated as an edge, not a prediction.

• Price confirmation remained essential even when the historical odds strongly favored one outcome.

• Following predefined levels helped keep the room aligned with market structure rather than emotion.

• The day showed the value of letting a clean directional move develop when the script remains intact.

• Just as important, traders were reminded not to force trades once conditions deteriorated into VWAP chop.

• The afternoon educational discussion on market profile, rolling five-day profiles, and POC/SOC levels added useful context for future sessions.

DTG Room Preview – For Thursday, August 20, 2026

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Disclaimer: Charts and analysis are for discussion and education purposes only. I am not a financial advisor, do not give financial advice and am not recommending the buying or selling of any security.

Remember: Not all setups will trigger. Not all setups will be profitable. Not all setups should be taken. These are simply the setups that I have put together for years on my own and what I watch as part of my own “game plan” coming into each day. Good luck!