Ahoy there Trader! ⚓️
It’s Phil…
As the market swings like a pendulum on a caffeine binge, we’re witnessing a bearish breakout that aligns with our expectations. But hold onto your hats, because with Friday’s Non-Farm Payroll figures and Tuesday’s U.S. Presidential election results on the horizon, it’s like trying to predict the weather in a tornado. ️
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Market Movements:
- Bearish Breakout: The market has taken a dive, just as we anticipated. But before you start celebrating, remember, the market is like a cat on a hot tin roof—unpredictable and prone to sudden movements.
- Upcoming Events: With the NFP figures dropping on Friday and the election results on Tuesday, it’s like waiting for the other shoe to drop. Stay alert, folks!
Trading Strategy:
- Final Swing Trade: I’ve got one last swing trade in play, sitting pretty near its target exit. Here’s hoping it pops during Friday’s session. It’s like waiting for the popcorn to pop—exciting and a bit nerve-wracking.
Personal Note:
- Zoo Visit: Taking an early weekend to visit the zoo and snap some pics of the big cats. Because who doesn’t love a good lion selfie?
Fun Fact
Did you know the stock market has a “Monday Effect”? Research shows that stock prices tend to drop on Mondays compared to other weekdays.
The “Monday Effect” refers to the observed phenomenon where stock prices tend to decline on Mondays. This trend can be attributed to several factors, including investor sentiment over the weekend and the tendency to sell off shares that may have underperformed. While not a universal rule, it suggests that timing and day-of-the-week factors can influence market behavior. As traders, being aware of such patterns can help refine our strategies and timing for better profits.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece