Last week’s SPX breakout invalidated the island reversal pattern, frustrating unprepared bears. This highlights why mechanical trading systems outperform discretionary setups.
The “Tag ‘n Turn” setup from the SPX Income System delivered steady profits, reinforcing a bullish bias.
As SPX inches toward new all-time highs, staying disciplined with tested setups, rather than relying on outdated patterns, remains key.
...Thursday’s consolidation break unfolded as expected, triggering a breakout pullback setup.
A “pulse bar” signaled entry into a 1-DTE income trade, which yielded an 88.9% return overnight.
Two bullish income swings remain open, poised for more gains as the bullish bias continues.
...The short-lived range on SPX may now be evolving into an angled, rising channel, with bullish bias firmly intact.
Futures dipped 20 points overnight, suggesting a potential gap lower before trading higher by day’s end.
Market internals like $ADD signal a pullback might come first. For now, my income system remains focused on bullish setups while awaiting targets and new entries.
As the week winds down, I’m signing off early for good food, 80s tunes, and maybe one more profit target hit. Time to trade smart, then party smarter!
...SPX enters another contraction phase, with Bollinger Bands signaling a “pinch point.”
I’m bullish for a change, expecting new all-time highs by year’s end. The 6 Money-Making Patterns guide my short-term trades: trade the range or wait for the breakout.
News events this week could shake things up, but my long-term outlook remains optimistic.
...Tuesday brought a slight dip into the bullish reversal zone but failed to follow through on a deeper flush.
SPX planted a firm double bottom, forming an inside/outside bar setup on the daily chart—a classic bullish signal.
This suggests the recent dip may have been a small bear trap, setting the stage for a potential bullish breakout.
With the De Niro-inspired “Raging Bull” mindset, I’m gearing up for a strong rally ahead.
...SPX starts the week with a sideways pattern and a slight bearish bias due to a lack of red flag news until Thursday.
Overnight futures push lower, aiming at recent lows. This may spark bear enthusiasm, but deeper pushes into the bullish reversal zone could turn the tide.
I’m watching closely for entry points and may start bullish income swings even before the typical triggers show up.
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