Ahoy there Trader! ⚓️
It’s Phil…
This morning’s market action delivered a short-term bearish profit from the established SPX range high. Thanks to $ADD and a bit of patience, the trade hit its target. Let’s dive into the details!
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The setup this morning had “bearish opportunity” written all over it. Here’s how it unfolded:
- Price Position: SPX was sitting at the established range high.
- $ADD Signal: Dropped below the 30-minute opening range, hinting at further bearish moves.
- Entry & Profit:
- $3.00 was collected at entry.
- Trade was closed at $0.30 for a $2.70 profit.
While the bears played nicely today, my overall bias remains bullish. My income swings are still active, and patiently waiting to hit their targets.
Key takeaways:
- Short-term plays are crucial in range-bound markets.
- Signals like $ADD can provide clarity when price hesitates.
- A mechanical approach ensures trades like this stay efficient and profitable.
Fun Fact:
Did you know the S&P 500 has a self-cleaning mechanism? Every year, underperforming companies are replaced, keeping the index fresh and competitive. Imagine if gyms worked the same way—underperform, and you’re swapped for a bodybuilder!
While this might sound ruthless, it’s why the S&P 500 remains a reliable reflection of the U.S. economy.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece