Trading In A Range: The Game Plan | SPX Market Analysis 30th Sept 2024

Ahoy there Trader! ‍☠️

It’s Phil…

As we set sail into a new week, the end of the month looms large on the horizon.

Expect some familiar jostling in the markets as we navigate these waters!

 

 


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The pre-market futures are drifting slightly lower, giving us a hint of what’s to come.

SPX is still stuck in a well-defined range, creating a playground for traders.

We can either bounce back and forth within this range or hold out for a breakout.

Both strategies are perfectly valid!

Here’s the Game Plan:

  • Play the Range: We can profit by trading at the upper and lower bounds of the SPX range.
  • Wait for Breakout: If we see a decisive move outside this range, that could signal a fresh opportunity.

Either way, I’m ready to execute the plan until we have a clear, new direction.

Happy trading,

Phil

Less Brain More Gain

…and may your trades be smoother than a cashmere codpiece


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