Ahoy there Trader! ☠️
It’s Phil…
Yesterday, SPX executed a jaw-dropping 180-degree turn right at the opening bell, wiping out Monday’s post-Fed rally.
Despite market chaos, my traders and I spotted an early breakout opportunity, turning challenge into profit!
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The market’s been all over the place lately—think of it like trying to follow a plot twist in a B-movie. One moment we’re in a rising channel, and the next, we’re tangled in a sideways slop, now flirting with the beginnings of a downsloping channel. It’s like watching your favourite band go through a mid-life crisis—confusing, yet oddly entertaining.
Yet, as usual, there were classic setups near the opening bell. Today’s premarket futures show a slight dip, possibly setting the tone for the day. A solid move below yesterday’s lows would indicate a true breakout.
Whatever unfolds, I’m relieved to see volatility creeping back into the market. It means clearer setups are on the horizon! For now, I’m positioned with bear swings, eagerly awaiting the next big move to kick into gear.
Fun Fact
Did you know the first stock ever listed on an exchange was the Bank of North America in 1781? It paved the way for modern trading!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece