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Hello, my friends!

Welcome again to today's edition of The Daily Impulse! 

Get ready because we've seen some major market moves with volatility kicking in hard, but there was no clear direction before NY lunch hour.

Pre-market was packed with high-impact news prints, and the ECB President speech made waves, triggering lightning-fast price action throughout the session.

It’s been a wild ride, so let’s break it all down!

Pre-Market 🕒

8:00-9:30 Est

• The U.S. PPI & Core PPI made a strong pre-market impact, selling off sharply into the key 0DTE demand zone at 19,250 - this level was in line with yesterdays daily close

• Now, the big question is whether this support level will hold as the New York session opens and volatility ramps up.

PPI Data ⚡

• US Initial Jobless Claims Actual 230k (Forecast 227k, Previous 227k, Revised 228K)

• US Core PPI YoY Actual 2.4% (Forecast 2.4%, Previous 2.4%, Revised 2.3%)

• US PPI MoM Actual 0.2% (Forecast 0.1%, Previous 0.1%, Revised 0%)

• US Core PPI MoM Actual 0.3% (Forecast 0.2%, Previous 0.0%, Revised -0.2%)

• "Fed swaps steady after PPI, see cuts totaling 100bps this year."

  • ECB’s President comments:

    • “Risks to growth are skewed to the downside.”

    • “Inflation is to rise again in Q4.”

NY Open (1.06%) Impulse🏦

9:30-10:00 Est

• Nasdaq opened the day bouncing between two strong ranges—0DTE supply at 19,300 and support at 19,250, stuck in indecision for about 15 minutes.

• Then, the sell-off arrived, only to reverse swiftly back to the top of the range, teasing traders with that dreaded "choppy" price action.

• Price hit the two supply lines above not once, but twice, each time selling off with volume.

• During times like these (wild chop), I set a timer and ensure everything is closed as we approach the NY lunch session.

12:00 Est NY Lunch

• As the final hour rolled in I always remind myself to not “work overtime”

• And look at that! Price found its way all the way back to level 19,250, which was the NY open level, solidifying support once again

• This gave me the confidence I needed to ease up and trust that the 0DTE trigger wouldn’t come into play today.

• NQ 19,250 (0DTE Demand)

• NQ 19,300, 19,355 (0DTE Supply)

• NQ 19,150 (0DTE Trigger)

These market levels are recalculated and updated daily, taking into account factors like gamma expiration, trading volume, and market volatility. For the most up-to-date levels and analysis, all information is available on MenthorQ.

MAG7 Correlation 👑

The "Mag 7" refers to seven leading technology companies that dominate the stock market due to their size, influence, and market capitalization. These companies are:

• Apple (AAPL)

• Microsoft (MSFT)

• Amazon (AMZN)

• Nvidia (NVDA)

• Meta (META, formerly Facebook)

• Alphabet (GOOGL, parent of Google)

• Tesla (TSLA)

They are pivotal drivers of market trends, especially in the tech sector, and are closely watched due to their large influence on indices like the Nasdaq and S&P 500.

Now lets get into the reason WHY I am bringing up the Mag7 …

• Below is a live correlation shot that I was monitoring when we hit a critical point in both time and price - 11:55 est

  • Some call these leaders the Mag 7, I call them the MAGIC 7

• At that moment, 3 out of the 7 tech leaders were barely in the red, while the other 4 were positive and never made new lows

• At this point Nasdaq was testing a higher low, and seller volume was losing steam 

• These final warning signs and tech savvy correlation gave me the extra edge I needed to close out my positions and call it a day…

US Indices Headlines 📰

• Stocks saw modest gains as Producer Price Index (PPI) data supported rate cut expectations.

• Small-cap stocks and miners outperformed, with gold and silver prices rallying.

• Oil and natural gas prices also saw notable increases.

• Major indices like the Russell 2000, Nasdaq 100, and S&P 500 experienced gains, led by sectors such as communication services.

• Notable stock movers included Newmont Corp. (up 4.5%) and Moderna (down 14%).

ex . For more details, check the full report here —-

Closing Statistic 🧠

I always remind my community of the importance of journaling and tracking daily performance.

These statistics are not only essential for your business but also for personal growth.

Below, you’ll see the platform I use to record my trades.

One of my favorite metrics is comparing the average holding time of winning trades to losing ones—meaning your losers should never outweigh your winners on any given day.

• Ideally, your losing trades should be closed faster, preventing significant damage to your account, while winning trades should be allowed to develop longer to maximize profits.

• This will lead to more consistent profitability.

Until next time,
Steve Benyi
Founder, The Daily Impulse

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Important Disclaimer:

This newsletter is for educational purposes only and does not offer financial or investment advice. It should not be taken as a recommendation to trade assets or make any financial decisions. Please be cautious and ensure you conduct thorough research or consult with a financial professional before making any investment choices.