SPX Holds 7,500 Support, Crude Hits $88 Target, BTC Teases Breakout

Hump day already, and for some unknown reason I thought I would check the economic calendar, which sent me down a rabbit hole of checking multiple different calendars, and there is exactly no news today. When nothing is on the board it is always one of two extremes: dull as dishwater or to the moon, and given the whole week is the same, I am expecting more of the same. Dull as dishwater.

That said, it is not going to take much to move a market like this. One tweet is all it is going to take, because we know the threat of global thermonuclear war and requiring a game of tic tac toe to bring world peace just doesn’t cut the mustard at the moment.

“Shall we play a game?”

Market Snapshot

Little still is changing. I have added some smaller range zones to SPX, Uncle Dow and Uncle Russ to highlight the smaller zones being respected. NazQuack seems to be leading the way with the AI hot and cold hopscotch, price at range lows pushing towards range highs. So up we go for the moment.

Gold has already moved from range lows to range highs. Crude and BTC are making moves like Jagger.

• ES (SPX): 7,527.50 / -0.20% / bull swing intact above 7,500, full read below

• YM (Uncle Dow): 52,412 / -0.01% / smaller range zones respected

• NQ (NazQuack): 29,133.00 / -0.54% / AI hot and cold hopscotch, leading the way

• RTY (Uncle Russ): 2,989.30 / -0.23% / walking to 3,000, full read below

• VIX: 17.43 / +2.29% / a slight lift, still low

• GC (Gold): 4,122.10 / +0.98% / already at range highs

• CL (Crude): 88.09 / +4.20% / $88 target printed, full read below

• BTC: 65,866.46 / -0.98% / teasing the breakout, full read below

SPX: 7,500 Holding Big Round Support, 7,520 Opens The Range High

The SPX 30-minute chart looks like it is going sideways, but in the bull swing mode still. The %R is in the upper extreme suggesting a strong bull move.

7,500 is holding as a big round number acting as huge psychological support. A continuation through 7,520 should see the smaller range high seen by week’s end.

Bull swing intact. 7,500 support. 7,520 opens the high.

Uncle Russ: Walking From Range Lows To Highs, 3,000 The Target

Uncle Russ is moving from its range lows to range highs. Close to 3,000 seems a sensible target to assess the next turn or breakout point.

Range lows to highs. 3,000 is the assessment level.

Crude Oil: $88 Target Printed, Following Through On The Breakout

Crude oil is following through on last week’s breakout moves and just nudging the mentioned target at $88.

And I don’t see any Deloreans sadly.

$88 printed. Delorean nowhere in sight.

Bitcoin: Teasing The Breakout, Wait And Reassess By Friday

BTC is teasing the breakout move. I may need to reassess the range lines at the end of the week if this continues.

Pushing higher with little bear pushes. So nothing to do but wait still.

Teasing the break. Wait and reassess Friday.

From The Desk: Popper Payoffs And Team Wins

Yesterday’s Premium Poppers were again awesome and working great. Both were able to be transformed into a guaranteed profit situation with bonus profits as a choice.

RUT sadly did not hit the jackpot despite having a very wide profit tent: $140 locked in with potential for $640 over a very wide zone.

SPX $80 locked in, and I missed out on a little more as I was tinkering with some new strategy versions. Eventually it was locked in AND landed close to the bullseye inside the profit tent for around $930.

The student traders are also again crushing the day and locking in profits. Awesome work team.

Poppers cracking. Team crushing it.

Trade well,
T2 Markets

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