Lucky Number Friday the 13th: Uncle Russ Fixes Bayonets and SPX Sets Up a Break in Either Direction

It’s a new day and a new dawn, and the last day of the week, Friday the 13th, unlucky for some. Personally I always saw this as a lucky type of day as I wanted to be different and weird, plus I read somewhere that 4 was supposed to be my lucky number and 1 + 3 = 4… hey, school wasn’t a total waste of time you know! AND I never had to take my shoes and socks off… lol

Anyways, lucky number Friday the 13th. There are a lot of superstitious traders out there and back when I used to work with a few ex floor traders they would regale me with stories of the weird and wonderful world of pit trader superstitions.

Gone around the turnstile the wrong way and then had a great day’s trading, do it again tomorrow, wear the same clothes, go on an all night bender, ride a miniature unicycle wearing clown shoes, business suit and a clown nose… whatever it was that created the conditions for the perfect day, then that becomes your personal groundhog day to reproduce that special magic.

Other than the clown, those other things happened and a whole lot more. The trading pits were a cess pool.

As Robert Downey Jr said after spending some time there for a film shoot:

People think The Wolf of Wall Street was made up. Most of it happens, all of it was toned down for film and a LOT was left out so as not to be believed.

Now today things are a little different, but then things were degenerate at best.

I’m not that crazy, I’ve been tested!¹

¹ Twice. Best of 3 requested.

Any’anways…

Scroll down for Uncle Russ going over the top alone, an SPX range with a target on both sides, Bitcoin’s bear move and a week that’s 4 for 4.

Market Snapshot

SnP, NazQuack and Dow holding their levels on the daily chart with a few little intraday moves to get excited over. Russell, however…

• SnP (ES) 7,617 – holding its level on the daily chart.

• NazQuack (NQ) 28,335.75 – holding its level on the daily chart.

• Uncle Dow (YM) 52,406 – holding its level on the daily chart.

• Uncle Russ (RTY) 2,808.3 – BREAKING: small caps go over the top. Nobody followed. Yet! Russell led a solo bear charge, fixed bayonets, over the top and charging to the sound of a bugle, and down -1.6% on the day yesterday. Turning off the small range highs that it’s been trenching out.

• Bitcoin 68,992.94 – BTC is also taking a tumble.

SPX – Cutting a small range at the lower end of the larger one.

Over on the swing charts in more detail, SPX is cutting a small intraday range at the lower end of the larger prior range, which is going to be great for a break in either direction.

Bull break and it breaks back into the prior range, targeting the range highs, and a bear break continues the bear theme and a retest of the lows is on the table.

Great for a break in either direction.

Bitcoin – The setup we’ve been monitoring gets some life injected into it.

BTC is confirming the bear argument too, with the setup we’ve been monitoring getting some life injected into it with a bear move, the channel target being met overnight, and the larger 65,000 target looking interesting.

The larger 65,000 target is looking interesting.

RSP – The daily dippers, the new kid on the block.

A 4 day swing. Noted.

RSP showing a nice profitable 4 day swing from a deep dip setup.

This is the Double Dip. It’s a valid trade, but it’s a new software tool I want to showcase ahead of public release.

Premium Poppers – A fist full of premium from the morning setups.

4 for 4. In a week ending on a 1 + 3. I’m saying nothing.

So far we are 4 days for 4 this week, the community bagging a fist full of premium again from the morning setups.

• Don E. “Closed RUT for 50%” and “Closed SPX LP for 45%”

• Steve “Hoo-hah!” with $2,823 on the P/L day

No unicycle required.

I’m also working hard on a new software update too which kicks ass. New breakout conditions, breakout fades, VWAP setups, all automated, coming soon…

Meme of the Day:

Trade well,

T2 Markets

p.s. Want full access to the SPX Income System (includes 7+ mechanical income strategies)? Join our team now!

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