Ahoy there, Trader! ⚓️
It’s Phil…
The markets are meandering again, and I’m starting to feel like a one-man tribute band for “Brimful of Asha” on repeat. Another grindy week, another re-run of the up-a-bit, down-a-bit SPX drama.
Today’s vibe? Picture those magnificent men in their flying machines… looping up diddely up-up and down diddely down-down with zero destination in sight.
The overnight futures opened with some energy – but landed us smack back into the call wall zone at 5700/5720. Meanwhile, the Bollinger Bands are pinching tighter than my jeans post-Christmas, confirming what we already know: this market’s stuck in a range.
But here’s the thing… I’m not stressing it. I’ve seen this dance before. And I know exactly what I’m waiting for.
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
Deeper Dive Analysis:
Another week, another range, and here I am again – sipping coffee, muttering to myself like a budget oracle, watching SPX push a few points higher and thinking… “Didn’t we just do this yesterday?”
The overnight futures gapped higher, but the market basically landed us right back into the same call wall we’ve been dancing with all week – 5700/5720. It’s like déjà vu… but with less excitement.
And don’t even get me started on the Bollinger Bands. They’re pinching so tightly now you could use them as a tourniquet. Yes, we’re consolidating. Yes, we already knew that. But now it’s like the market is actively mocking us.
So what’s changed? Nothing.
The plan remains exactly the same:
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Wait for a breakout-pullback – either direction.
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Don’t force trades.
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Stay sharp, but don’t get twitchy.
Friday’s rally? It messed with the last of my bear swings, and instead of dragging the positions out like a bad soap opera, I just let them expire and took the loss. Not because I had to. But because they were irritating me.
Sometimes, the smartest move is not about managing the trade – it’s about managing the trader. I cleared the decks, reset the headspace, and now I’m ready for what comes next.
So here we are:
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Bullish trigger is still 5720+
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Bearish trigger stays below 5605
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Everything in between is just noise.
And yeah, I’m still leaning bearish, but I’m not forcing it. We’ve seen this pattern before – the grind, the stall, the fakeout. And when the real move comes? That’s when I’ll strike.
Until then, it’s back to the charts, back to the tea, and back to waiting with the quiet smugness of someone who knows patience pays better than panic.
Let’s see if today delivers… or if we’re just rolling the same episode again.
Fun Fact
In 1997, when the VIX dropped below 10, traders called it “nap time.”
The market stayed so calm for so long, many option traders took part-time jobs just to stay busy – including one notorious story of a floor trader who moonlighted as a nightclub bouncer.
Lesson? When volatility vanishes, don’t force action – prepare for the return of chaos.
Video & Audio Podcast
Coming shortly…
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece