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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Despite the whipsaw price movements from Fed Chairman Powell’s comments, the market remains in a messy range. We’ve been grinding through this sideways motion for weeks, making it tough to define any clear trend.
As I often say, “…until something new happens, the same thing is likely to continue…” And right now, nothing new is developing. Powell’s comments have failed to push SPX out of this grind!
- All eyes are on Friday’s NFP figures.
- This data release might just push us out of the status quo.
- The range has become sloppy and difficult to define.
I’ll be keeping an eye out for a definitive breakout in either direction to identify a firmer setup for trading.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece