Ahoy there Trader! ⚓️
It’s Phil…
The SPX is playing a game of sideways ping-pong, bouncing between its range lows and highs like a well-trained AI trying to keep things interesting.
Monday’s Tag ‘n Turn setup gave us a solid bullish entry, but now we’re watching to see if prices can push up to the 6100 range high – or if the bears will throw a wrench in the works.
Let’s break it all down…
⬇️⬇️⬇️ – keep scrolling for more in-depth analysis – ⬇️⬇️⬇️
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SPX Deeper Dive Analysis:
SPX is Stuck in a Range… Again
For the last few weeks, SPX has been grinding sideways, like a car stuck in neutral but revving its engine. The updated 30-minute chart shows a clear range-bound market, and Monday’s Tag ‘n Turn setup conveniently landed at the range low—a textbook entry point for a bullish push.
The Next Target: 6100
With this bounce in motion, our next checkpoint is 6100, the current range high. When we get there, one of two things will happen:
- Scenario 1: SPX rejects 6100 and sets up for a range reversal, giving us another Tag ‘n Turn opportunity—this time, in the opposite direction.
- Scenario 2: SPX breaks out of the range, sending the bulls into overdrive and opening the doors for a fresh rally.
- Scenario 3: SPX pushes through the bear trigger. Hedge off bull trades, revert to bear swings
⚖ Scaling In? Not Likely This Time
Normally, I’d look for opportunities to add to my position along the way, but given the short distance between our entry zone and the target, the risk-reward just isn’t there. No need to force a trade—we’ll see what we see when the markets unfold.
⏳ For Now, We Wait…
At this stage, we’re in a hurry-up-and-wait mode:
- Bullish traders are watching for targets to hit.
- Bearish traders are waiting for hedge triggers to fire off.
We will cover the plan and updates as the market opens in today’s Fast Forward Group Call.
It’s a classic range game—stay patient, stay sharp, and be ready to pounce when the next high-probability setup presents itself.
Fun Fact:
Did You Know? In 2017, Amazon’s stock price was under $1,000. Today, it’s split-adjusted, but its total value has skyrocketed, making early investors a fortune.
The Lesson? Finding the right setup early—whether in stocks or trading setups like the Tag ‘n Turn—can lead to massive opportunities. Timing is everything!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece