Patience Mode: System Awaits Clear Pulse at Range Edge
Ahoy there, Trader! ⚓️
It’s Phil…
The price is bouncing again – just not enough to break out or break down.
That said, the system has done exactly what it was supposed to: sit, wait, and not chase.
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
One Chart. One Setup. Daily SPX Income Locked In.
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SPX Market Briefing:
The week began with a push toward the range low, as expected.
But after the brief test, price has rebounded and is now drifting toward the upper boundary.
If this sounds familiar, that’s because it is.
We’re stuck in the same range.
Your playbook still applies:
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Buy range lows
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Sell range highs
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Buy breakouts above
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Sell breakdowns below
Overnight futures action is indecisive – Nasdaq slightly up, Russell red, S&P flat-ish.
We’ll likely see volatility around the news drop later this morning, which could push us out of the range… or back into chop.
No swing setup yet.
No new pulse bar.
The system says wait – and so we wait.
If you’re nimble, today’s 0-DTE setups may continue to offer scalping edge.
But for system swing traders – the call is simple: hold fire and prep levels.
In Other News…
Tariff Clouds, Tech Sunbeams
Indices wobble as policy cross-currents build
“Nvidia giveth, but Powell taketh away.”
Markets popped on word that Nvidia’s China chip flow was back online, giving semis a boost—until Fed drama stole the mic. A fresh White House whisper campaign against Jerome Powell sent yields higher and stocks lower, cooling the early optimism faster than a cold call from the IRS.
“Kazakhstan called. They’d like to flood your energy trade.”
Just as traders were digesting Powell risk, Kazakh barrels surged into view, knocking Brent off-balance. Energy names coughed up Monday’s gains, while refiners slipped on glut fears. Even the defensive darlings—utilities—had their moment ruined by a closing bell fade.
“Tesla flies, tariffs drag, and Europe hits snooze.”
Musk’s late-night antics gave Tesla a 1.8% pop, but it wasn’t enough to rescue tariff-exposed automakers. Europe’s brief rally on trade optimism fizzled by lunch, and US industrials stood there blinking—caught between soft threats and solid backlogs.
“Wall Street: perfectly flat with a 70% chance of panic.”
By day’s end, the tape barely moved—S&P down 0.05%, Dow off 0.12%, Nasdaq up a whisper. But under the hood, options skew steepened like a rollercoaster ramp. With CPI on deck and Powell in the political crosshairs, traders are bracing for a bumpier ride than the quote screen suggests.
Expert Insights:
Principle: Range trading works best when volume and volatility compress, then revert.
[Bollinger Band Squeeze principles – John Bollinger]
Action: Respect the squeeze.
Today’s BBW indicator is at a pinch point again. Let the breakout confirm – don’t preempt it.
Rumour Has It…
CNBC anchors remain in total denial that we’re in a range.
During a mid-segment breakdown of “market momentum,” one brave intern stepped on stage and boxed the price chart live.
The box was clean. The range was obvious.
The room… went silent.
Then Cramer yelled “I still say it’s bullish!” and the lights cut to commercial.
This is entirely made-up satire. Probably!
Breaking scoops courtesy of the Financial Nuts Newswire-because who needs sanity?
Fun Fact:
In election years, July still performs well.
According to the Stock Trader’s Almanac 2024, the S&P 500 has averaged +1.7% in July during presidential election cycles.
Even when summer is sleepy, seasonality still matters.
[Source: Stock Trader’s Almanac 2024]
Meme of the Day:
“Trader waits. Market waits. Setup still not here.”
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece
p.s. There are 3 ways I can help you…
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