Ahoy there Trader! ⚓️
It’s Phil…
SPX is at an inflection point. Will it rip higher or take a dive? We’ve just rolled into the notorious Feb/Mar correction season, and I can’t help but notice a Bollinger Band W-Bottom potentially setting up on the daily chart.
We saw something eerily similar on the 30-min chart back around the 12th of Jan, which played out beautifully. Could we see a repeat – but on a larger scale? Let’s break it down.
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
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SPX Deeper Dive Analysis:
The SPX Setup: What’s Next?
- Correction Season – Historically, Feb/Mar tends to see some turbulence, making this a crucial time to assess the market’s next big move. What is the next seasonal correction window? Sep/Oct – but let’s deal with one at a time!
- Bollinger Band W-Bottom – A potential W-bottom is forming, which, if it is confirmed, could see price hug the upper Bollinger band in a rip ‘n ride scenario.
- Tag ‘n Turn Says Bullish! – The SPX Income System has done its job. We’ve profited off Monday’s gap down and bear swing, but now the setup suggests a possible bull swing unfolding.
- What About 30-Min Charts? – If you check the 12th Jan move, we saw a similar Bollinger Band structure play out on the smaller time frame, leading to a solid push higher. Déjà vu on the daily charts?
The Plan Moving Forward
☑ Monitor bullish follow-through – If SPX holds momentum, we could see a breakout and run higher.
☑ Watch for confirmation – A failed breakout or exhaustion candle could hint at a February dip instead of a rip.
☑ Trade the setups, not the emotions – Following the Tag ‘n Turn system keeps us on the right side of the market, bull or bear.
Fun Fact:
Did you know the 1987 stock market crash happened on a Monday? Dubbed Black Monday, the Dow dropped 22.6% in a single day, making it the worst one-day percentage decline in history. The cause? A mix of programmatic trading, high valuations, and market panic.
The eerie part? The market recovered all losses within two years, proving once again that panic selling rarely pays off!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece