Eurofighters gone, market drifts in wide “do-nothing” zone
Ahoy there, Trader! ⚓️
It’s Phil…
Back from the lakes. Boots muddy, lungs clear, mind sharper than ever. And while the views were majestic, the SPX didn’t do much sightseeing. Let’s catch up.
⬇️⬇️⬇️ – keep scrolling for full breakdown – ⬇️⬇️⬇️
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SPX Market Briefing:
Well I’m back in Blighty after a few days at Lake Windermere (again) – hiking, waterfall swimming, and a cheeky bit of boating.
Military flybys didn’t disappoint either.
Two Eurofighters buzzed us on day one, a Hercules screamed past soon after, and the Chinook practically joined us for tea.
Mrs Newton got the birthday adventure she deserved.
Back to the charts.
It looks like I picked a great time to unplug – the bearish Tag n Turn setup we flagged earlier took its sweet time to materialise.
We got a clean reversal, but then it crawled sideways into what’s now a wide “no-action” zone. Per the SPX Income System rules: sit, wait, and don’t force it.
That could be about to change. With the prior bear swing expiring, Friday’s open might deliver a new pulse bar.
And if that confirms? A new Tag n Turn setup will trigger a swing short.
Until then – theta drip continues.
In Other News…
Dollar Pause, Chip Charge, Crypto Blaze
Calm FX meets AI frenzy, Bitcoin rewrites highs
Opening note – After a week-long dollar dribble that juiced exporters, the greenback finally caught its breath just below 97. Traders parked ahead of Tuesday’s CPI, pulling a handbrake on last week’s reflation cheer.
But wait – Oil refused to nap. OPEC’s fresh World Oil Outlook pledged demand growth past 2050, nudging Brent to $69 even as Russia-sanction whispers swirled. Energy bulls sniffed supply discipline in disguise.
Next twist – Nvidia again stole center stage. An overnight preorder leak for its Blackwell-Ultra AI server vaulted the chip titan to a $4.1 trillion market cap, yanking the SOX index up 1% and masking a broader tech fatigue.
Meanwhile – Industrials found a wingman: Delta Air Lines hiked guidance by double digits on AI-driven scheduling gains, sending airlines airborne and reminding bears the rally can walk on more than silicon.
Wildcard – Crypto wrote its own headline. Bitcoin ripped through $118K, vaporizing a billion dollars in shorts and dragging ETH, SOL—and even a Doge-Pay rumor—into the slipstream. Digital lifeboats look enticing as fiat ships wobble.
Will chip euphoria override tariff dread, or does Monday’s policy cliff snap the rope?
Rumour Has It…
Sources say a shadowy trader has been seen offering unhedged calls in exchange for beer brats and fireworks.
In unrelated news, the SPX has declined to move.
This is entirely made-up satire. Probably!
Breaking scoops courtesy of the Financial Nuts Newswire-because who needs sanity?
Fun Fact:
July has historically been one of the strongest months for the S&P 500 – even during election cycles.
According to LSEG data cited by Reuters:
“Over the past 20 years, July has been the strongest month for the benchmark index with an average return of 2.5%”
– reuters.com
This supports the idea that a calm, drift-filled start to July isn’t unusual and may actually be part of a broader seasonal trend.
Meme of the Day:
“When your only move is to move… nothing.”
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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