Ahoy there Trader! ⚓️
It’s Phil…
The SPX is flirting with the upper range highs after bouncing cleanly from Friday’s lows. Futures hint at an intriguing gap higher to kick off the week—breakout move or a cheeky fakeout? Either way, it’s an exciting setup to track as we begin the trading week.
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SPX is following our weekend analysis to a tee, bouncing off the range lows and now pushing up to test the range highs. Futures overnight have added fuel to the fire, suggesting we could see a gap higher right at the open.
Here’s where it gets interesting:
• Scenario 1: A clean breakout above the range highs could ignite bullish momentum for the week.
• Scenario 2: If price struggles and slips back, we’re looking at a “break back in” setup—a near-perfect mirror of what we saw at the range lows.
Key Levels to Watch:
• Break above range highs for a breakout confirmation
• A drop back inside the range for potential reversals
For me, it’s a classic example of two of my six money-making patterns in action—range breakouts and reversals. These setups keep things simple, mechanical, and profitable.
On a more personal note, I’m still exploring the stunning streets of Krakow, Poland. Trading from the road keeps things flexible, and this city is a perfect mix of history, beauty, and emotion. Some moments are heavy with the weight of the past, but the spirit of Krakow remains undeniably captivating.
Fun Fact:
Did you know? The stock market often spikes during the holidays. This phenomenon is called the “Santa Claus Rally,” where stocks historically rise in the final week of December and the first two days of January.
Why? Lower trading volume, investor optimism, and holiday cheer seem to work their magic!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece