Ahoy there Trader! ⚓️
It’s Phil…
The market is moving like molasses, showing signs of slowing into a sideways slumber. But don’t be lulled into complacency; things are just heating up for us traders.
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The SPX is currently tiptoeing along a tightrope, with the Bollinger Bands and Bandwidth indicators confirming what we’re seeing: a pinch that hints at range formation. The action has slowed, and we’re sitting at a crossroads.
Here’s what I’m watching:
- Bearish Bias: My current stance is aligned with the “SPX Tag ‘n Turn” setup.
- New Highs Alert: If prices decide to climb and make new highs, it’s time to shelve the bear hat.
- Reversal Zone Watch: A dip into this labelled zone will flip from bearish and hoist the bull flags flying.
- No deep retracement is expected, but hey, the market loves surprises. Always be ready.
Fun Fact
Did you know that the “fear gauge,” the VIX, often drops after elections, even when the results are unexpected? Investors crave certainty, even if the news isn’t what they hoped for.
The VIX, or Volatility Index, measures market uncertainty. While it spikes during times of stress (think 2008 or early 2020), it tends to cool off as soon as clarity emerges—political or otherwise. This quirk of the market psychology can lead to surprising rallies as tension eases.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece