Range Lows Bought – Profits Ahead! | SPX Market Analysis 16th – 20th Dec 2024- part 3

Ahoy there Trader! ‍‍⚓️

It’s Phil…

SPX has been playing its usual games, teasing us with a gap up only to reverse with a gap down. While the market dances, the plan remains steady and profitable. Here’s how we’re turning range-bound action into winning trades while soaking up Polish culture!

 


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Yesterday’s market moves reinforced why sticking to the plan is crucial.
Gap Up, Gap Down: SPX teased an early rally, only to reverse lower.
Range Lows in Play: I seized the chance to buy at the range lows, aligning with the weekend’s plan.
6100 in Sight: A move back to the range highs at 6100 would signal a profitable exit.
Next Steps: After reaching 6100, I’ll assess whether to play a reversal or breakout for the next setup.
The Bigger Picture:
The range continues to define this market.
Pulse bars will be key in spotting entries and exits.
The SPX Income System thrives in this environment.
For now, I’m sticking to the plan and letting the market unfold while taking a break to explore Poland’s fascinating salt mines.

Fun Fact:

Did you know? The S&P 500 has a 68% historical win rate in December, making it one of the most bullish months of the year.
More on this: December’s rally is often fueled by the so-called “Santa Claus Rally,” occurring in the final five trading days of the year and the first two of January. This pattern often gives traders and investors a sense of optimism heading into the New Year.

Happy trading,

Phil

Less Brain More Gain

…and may your trades be smoother than a cashmere codpiece

 


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