Reality Left the Building With Elvis. I’m Waiting for the Logging Truck.

These markets continue to be up a day and down a day. What we think will happen doesn’t happen, and when it starts to look like it will, it stops.

I have to check the calendar for some sort of April Fools’ Day prank, but this whole year has been like this, on and off.

The whole situation is resembling a car crash scene from Final Destination, and I’m just waiting to see the logging truck.

Market Snapshot

• Indexes: Most of the index attends in an advisory capacity. A handful of stocks driving the index movement, reality has left the building with Elvis.

• Gold: The gold bull setup has left the building with Elvis too.

• VIX: VIX has been at 16 so long it’s started receiving post there. It’s clinging on to 16 for dear life.

SPX – The 7660 level is holding, for the moment.

Over on the clearer SPX chart, I’m keeping the tool off so you can see the price action.

Once again the 7660 level is holding for the moment, but the overnight moves have popped a little lower briefly. Should we get the regular session push through it, then we can be looking for a nice run to the 7550 zone.

Regular session push through it, and 7550 is the zone.

Bitcoin – The bull is grinding.

By Bitcoin standards, this counts as a sabbatical.

The BTC bull is grinding out a small range. For this to continue I’ll need to see it push confidently above the 85,000 level.

Confidently above 85,000, or the grind continues.

Premium Poppers – Just one trade for me yesterday.

The Premium Poppers are doing nicely. Just one trade for me yesterday, as I was busier than usual with other things.

That said, it grinded sideways and gave a nice max profit by the day’s end. My greedy mitts didn’t get the transformer setup, otherwise that would have been a nice profit tent trade too.

Such is the way of things.

INTC was also traded live inside the group calls, showing a lovely setup out the gate with a VWAP entry.

Wall of Wins

And of course the community continues to smash the results again.

Don E.: “Closed SPX LP for 50%.” And a separate parallel trade: “Sold ATM SPX LP for $2.10, created butterfly with debit spread for $1.60, will wait to see what happens.”

Richard H.: “SPX BO1 SS7690 sold for $2.70, transformed for $1.35 (50% win) into butterfly.”

Scott K.: “BO1; SPX credit spread (bear) sold at 2.65. Bull spread bought at 1.80. Bullseye target, 7690.” And later: “Just a couple of points outside the profit tent

ehvpsd: “Nice! I’m traveling, so I’m sticking to my plan, not trading today…”

James D.: “Win on the pre-market SPX and the SPX Popper, but a loss by a whisker on the RUT Popper.”

Well done, team.

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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