Ahoy there, Trader! ⚓️
It’s Phil…
The tide turned Monday, and for once, the charts didn’t just mutter vaguely in Morse code – they actually gave us something to work with.
After weeks of grindy, gummy-bear movement, SPX finally flashed a bullish signal. The classic breakout-pullback has shown itself on the 30-minute timeframe, and the daily chart has joined the party with a sharp reversal, flipping us right back into the prior range.
Let’s just say this… not rolling those final bear swings? Smartest decision I didn’t overthink. I just wanted to stop the bleeding. Turns out, it also kept me out of harm’s way.
Now, with the bear slippers safely tucked back into the winter cupboard, I’m eyeing the bull setups. But as always – I’m not jumping just yet…
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
Deeper Dive Analysis:
Monday brought a much-needed shakeup – not the kind that rattles your coffee mug off the desk, but the kind that whispers: “Something’s changed…”
And it has.
The 30-minute chart formed a clean breakout-pullback, the kind you could frame on the wall and call “textbook.”
The daily chart? We’ve got a bullish reversal pattern that’s pushing price back into the old range.
That means my bearish bias has officially flipped.
Goodbye bear slippers. Hello, Bull Boots.
Let’s talk about those bears for a moment…
Last week’s trades didn’t go to plan. Friday’s rally chewed them up, and instead of rolling endlessly like a gambler doubling down, I did what needed to be done: closed them. Cleared the head. Took the “L”.
And now, I’m glad I did.
Sometimes, the best trade is no trade. Or at least, no new pain.
During my Fast Forward mentorship call, we did our usual morning deep dive.
We looked at:
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The GEX flip (Gamma Exposure momentum line)
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Intraday call wall pressure
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And the speculative cap at 5765 for the high of day
With that info, I made the call to delay my bull swing entry. Why chase a top when the market’s whispering “pullback pending”? I’d rather find a smarter entry… with more meat on the bone.
So what now?
- Bias is bullish
- 5765 & 5805 = overhead friction
- Waiting for a deeper pullback before entering long – Ideally 5720
- My trigger’s locked. My chart’s marked. Now I wait.
And if that pullback doesn’t come?
Fine. I’ll let it go and re-evaluate. No FOMO. No flinching.
The plan is simple: Trade with the setup, not the hype.
Fun Fact
Benjamin Graham once said, “In the short run, the market is a voting machine. In the long run, it is a weighing machine.”
But he never accounted for meme stocks, social media panic, and Reddit-fuelled rocket ships.
Today, it often feels like the market’s a slot machine with a Twitter feed.
Still – patterns like breakout-pullbacks?
They’re timeless, regardless of the noise.
Video & Audio Podcast
Today’s video is lost somewhere in the Matrix.
Until I find the red pill – enjoy the newsletter.
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece