Delay Bearish Bias Until Breakdown Back into Range
Ahoy there, Trader! ⚓️
It’s Phil…
Well well well… as soon as we ID’ed the range – the market smashed right out of it.
You can’t make this stuff up.
Now that we’ve had a confirmed breakout, the goal is simple:
Let the breakout run. Don’t interfere.
We want to give this move every opportunity to stretch to 6020 before we even think about fading it.
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
SPX Pays Daily. If You Know This One Setup.
Pulse bar + credit spread = reliable income. It’s that simple.
SPX Market Briefing
Here’s the key point:
I’m delaying bearish trades for now.
The only condition that would flip me is a move back into the range, which would invalidate the breakout and signal a failed move.
To help with that, I’ve marked the breakback zone with a red triangle on the chart as a visual trigger zone.
Until we get back into that box – it’s hands-off on the bear side.
Even more interesting?
The daily chart is breaking out too, and it has room to push all the way to 6150.
That’s big.
So we stay bullish.
We let the move breathe.
And we do what we always do – wait for the system, not our feelings.
Expert Insights:
Mistake: Fading Too Early After a Breakout
Most traders love to bet on a “fakeout” the second a breakout forms.
The smarter play?
Wait for the actual failure, not just your suspicion of one.
In this case, if the market reclaims the old range – then we shift bias. Not before.
Rumour Has It…
SPX was spotted checking itself out in the mirror this morning, muttering:
“Damn, I still got it.”
Word is the breakout has gone to its head.
Meanwhile, the red triangle zone has been labelled “Bear Trap Alley” by insiders who keep shorting too soon.
This is entirely made-up satire. Probably!
Breaking scoops courtesy of the Financial Nuts Newswire-because who needs sanity?
Fun Fact
Breakouts followed by strong daily chart alignment – like what we’re seeing now – tend to attract a flood of amateur bear bets… right before a second leg higher.
Don’t be that guy.
Meme of the Day
“Me watching the breakout while the bears say ‘overbought’.”
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece
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