SPX Holds 7,500 Support, Crude Hits $88 Target, BTC Teases Breakout

Crude Delivers The $88 Print, Following Through On The Breakout

Ahoy there, Trader! ‍‍⚓️

It’s Phil…

Hump day already, and for some unknown reason I thought I would check the economic calendar, which sent me down a rabbit hole of checking multiple different calendars, and there is exactly no news today. When nothing is on the board it is always one of two extremes: dull as dishwater or to the moon, and given the whole week is the same, I am expecting more of the same. Dull as dishwater.

That said, it is not going to take much to move a market like this. One tweet is all it is going to take, because we know the threat of global thermonuclear war and requiring a game of tic tac toe to bring world peace just doesn’t cut the mustard at the moment.

“Shall we play a game?”

SPX holding 7,500, Uncle Russ walking toward 3,000, crude finally printing $88, BTC teasing the breakout, and a fun fact about the day the BBC ran out of news. Right then, let’s get into the charts.

Mr SPX at his trading desk on a Wednesday morning with a mildly amused expression, coffee mug in hand. A "Dull As Dishwater." mug. The main monitor shows an SPX chart with a big 7,500 SUPPORT line and a sideways range. A second screen shows a crude oil chart with the $88 level ticked. A third small monitor shows a black WarGames-style terminal displaying "SHALL WE PLAY A GAME?" in white pixelated text. The black cat is curled up asleep on top of a tiny grand piano on the desk corner. A folded newspaper on the desk reads "THERE IS NO NEWS". A tiny tic tac toe board sits nearby in a cat's game. A shelf slot labelled "DELOREAN" is empty. A calendar shows WED 22 JUL.

Market Snapshot

Little still is changing. I have added some smaller range zones to SPX, Uncle Dow and Uncle Russ to highlight the smaller zones being respected. NazQuack seems to be leading the way with the AI hot and cold hopscotch, price at range lows pushing towards range highs. So up we go for the moment.

Gold has already moved from range lows to range highs. Crude and BTC are making moves like Jagger.

  • ES (SPX): 7,527.50 / -0.20% / bull swing intact above 7,500, full read below
  • YM (Uncle Dow): 52,412 / -0.01% / smaller range zones respected
  • NQ (NazQuack): 29,133.00 / -0.54% / AI hot and cold hopscotch, leading the way
  • RTY (Uncle Russ): 2,989.30 / -0.23% / walking to 3,000, full read below
  • VIX: 17.43 / +2.29% / a slight lift, still low
  • GC (Gold): 4,122.10 / +0.98% / already at range highs
  • CL (Crude): 88.09 / +4.20% / $88 target printed, full read below
  • BTC: 65,866.46 / -0.98% / teasing the breakout, full read below

Snap Analysis 22 July 2026

SPX: 7,500 Holding Big Round Support, 7,520 Opens The Range High

The SPX 30-minute chart looks like it is going sideways, but in the bull swing mode still. The %R is in the upper extreme suggesting a strong bull move.

7,500 is holding as a big round number acting as huge psychological support. A continuation through 7,520 should see the smaller range high seen by week’s end.

Bull swing intact. 7,500 support. 7,520 opens the high.


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SPX Analysis 22 July 2026

Uncle Russ: Walking From Range Lows To Highs, 3,000 The Target

Uncle Russ is moving from its range lows to range highs. Close to 3,000 seems a sensible target to assess the next turn or breakout point.

Range lows to highs. 3,000 is the assessment level.


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RUT Analysis 22 July 2026

Crude Oil: $88 Target Printed, Following Through On The Breakout

Crude oil is following through on last week’s breakout moves and just nudging the mentioned target at $88.

And I don’t see any Deloreans sadly.

$88 printed. Delorean nowhere in sight.

CL Analysis 22 July 2026

Bitcoin: Teasing The Breakout, Wait And Reassess By Friday

BTC is teasing the breakout move. I may need to reassess the range lines at the end of the week if this continues.

Pushing higher with little bear pushes. So nothing to do but wait still.

Teasing the break. Wait and reassess Friday.

BTC Analysis 22 July 2026

From The Desk: Popper Payoffs And Team Wins

Yesterday’s Premium Poppers were again awesome and working great. Both were able to be transformed into a guaranteed profit situation with bonus profits as a choice.

RUT sadly did not hit the jackpot despite having a very wide profit tent: $140 locked in with potential for $640 over a very wide zone.

SPX $80 locked in, and I missed out on a little more as I was tinkering with some new strategy versions. Eventually it was locked in AND landed close to the bullseye inside the profit tent for around $930.

The student traders are also again crushing the day and locking in profits. Awesome work team.

Poppers cracking. Team crushing it.


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SPX RUT 21 july

RUT PnL 21 july

SPXPnL 21 july

Fun Fact: The Day The BBC Ran Out Of News

The most famous instance of “no news” occurred on Good Friday, April 18, 1930, when the BBC News broadcast an announcer reading the script:

“Good evening. Today is Good Friday. There is no news.”

The network then played 15 minutes of piano music instead of the standard broadcast.

In reality, major events were happening globally, such as a rebellion in India and a devastating fire in Romania, but due to holiday schedules and cut communication lines, the BBC was unaware and chose not to broadcast filler.

Some days, there just is no news.

Source: BBC News broadcast, 18 April 1930.

Meme of the Day:

 


 

Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece

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