Ahoy there Trader! ⚓️
It’s Phil…
What’s better than a perfect trade setup? Spotting it mid-birthday celebrations while sipping a fine whiskey or three!
Friday’s market action aligned perfectly with our range analysis, setting up a classic reversal. And as the Tariff Wars kicked in, this one went straight into the profit zone.
Let’s break it down!
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
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SPX Deeper Dive Analysis:
The Setup: A Textbook Range Reversal
- Thursday’s market analysis pinpointed range highs & lows, setting the stage for a potential reversal.
- Price action developed a V-shaped entry, giving a clear signal to step in.
- With a birthday dram in hand, I collected $4.00 in premiums and let the trade unfold.
The Trade Execution: Tariffs Bring the Heat!
- Markets sold off hard from the range highs to the range lows.
- News of escalating tariff disputes added fuel to the fire, triggering a further Monday gap down.
- The trade hit the target exit at the opening bell for $0.20, squeezing out a few extra pennies compared to my usual exit.
Lessons from the Trade
- Range reversals remain one of the six core money-making patterns of the SPX Tag ‘n Turn system.
- Even while celebrating, sticking to the process ensures solid trades—greedy goggles or not!
- Market fundamentals (like tariffs) can act as an accelerant for technical setups—always a bonus!
Fun Fact:
Whiskey and Wall Street Have a Long History!
During the Prohibition era, the stock market boomed with investments in bootlegging operations. Companies with “medicinal alcohol” licenses saw huge stock surges as investors bet on the underground liquor trade.
In the 1920s, while Wall Street was in a frenzy, prohibition fueled an unexpected boom in stocks related to “medicinal” whiskey. Distilleries pivoted to selling liquor legally through prescriptions, and savvy investors piled into these stocks, expecting demand to soar. When Prohibition ended in 1933, whiskey companies like Seagram and Brown-Forman exploded in value, proving that booze and market speculation often go hand in hand—literally!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece