Ahoy there Trader! ⚓️
It’s Phil…
The markets are doing a weird bull/bear hokey-cokey, teasing both Santa Rally cheerleaders and the doom-and-gloom brigade. Will the rally hold, or is a rug pull waiting to trip us up? Let’s dive in and see if SPX is ready to rip or flip!
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SPX Deeper Dive Analysis:
It’s been a classic game of tug-of-war in the markets, with the Santa Rally brigade and naysayers duking it out. Each day brings new fuel for the talking heads, but for us traders, it’s all about sticking to the plan.
Here’s what’s happening:
- SPX Teetering on Triggers: Price needs to push through 5940 to confirm a bullish move, while the bear hedge sits below at 5865.
- Bullish Pulse Bars Are Back: Despite the recent dip, there were few (if any) bearish pulse bars, keeping the bullish bias intact.
- Swing Positions Hold Strong: Current bullish swings are holding steady, with exits planned on a rally higher.
The overnight futures are already pointing slightly higher, echoing Thursday’s pattern. If the rally unfolds, we could see the bulls carry the day—at least until the next twist in this hokey-cokey market!
Fun Fact
In crypto, a “rug pull” refers to developers abandoning a project after siphoning funds. In stocks, it’s more figurative—those sudden sell-offs that leave investors scrambling!
Historically, these moments often happen when speculative bubbles form, fueled by media hype or sudden shifts in sentiment. While crypto rug pulls are literal theft, stock rug pulls are a sharp reminder to stay prepared.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece