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- The Breakout Hit Its Target. Now I’m Flat and Waiting.
The Breakout Hit Its Target. Now I’m Flat and Waiting.
2 indexes at new highs, 2 at new lows, and it’s still the same story playing out.
T2 Markets
October 07, 2026
The 4 indexes were asked to agree on a direction. 2 have gone up, 2 have gone down, and all 4 consider the matter closed.
New highs on S&P and Naz, new lows on Dow and Russell.
Not a fresh low, but generalized to illustrate the market’s divergence.
The divergence is still the same story playing out, in that a handful of AI stocks are driving things higher.
Right then, let’s get into the charts.
Market Snapshot
Here’s where everything sat at this morning’s grab.
SPX (cash, Tuesday’s close): 7,818.92, +0.58%. New highs.
S&P 500 futures (ES): 7,856.25, -0.31%. Off the NATHs line.
NazQuack (NQ): 31,310.50, about -0.55%. Off the NATHs line too.
Uncle Dow (YM): 51,572, -0.54%. 3,312 points under his NATHs line.
Uncle Russ (RTY): 2,830.9, -0.64%. 249 points under his.
Gold: 4,139.1, -1.28%. Under 4,200.
Crude Oil: 90.09, +0.20%. Under the 93.00 line.
VIX: 15.63, +4.06%. Under the 16 line.
Bitcoin: 83,610.79. Still in the range.
SPX – Reached the breakout target, and back to being flat.
The breakout was given a target and, in a move that has unsettled everyone who predicts things for a living, went there.
SPX bull breakout from the range reached the breakout target.
The Tag n Turn tool is back to being flat and waiting for a new entry setup.
The TnT flagged a bear setup which is tipped to skip, flat post successful bull trade.
Bitcoin – Still in the range.
Bitcoin has a trigger, 2 targets and a box. It is using the box.
BTC still in the range and waiting for a breakout.
And of course the community is pulling the premiums once again.
Uncle Russ has been confirmed as a winner by someone who was out, and as a stop-out by someone who was in.
James D.: “I was out (damn) but I reckon if you’d taken the RUT PP bear you’d be a winner now….”
ehvpsd: “Stopped out on RUT”
Don E.: “Sold SPX BO1 7830/7825 put credit spread, it was a long wait but finally got the debit spread filled for a butterfly, locked in $.50”
Steve R.: “I do love me the smell of Q4 in the morning”, posted with a P/L Day of 1,990.00, 1,784.94 and 879.00, 4,653.94 in all.
Well done.
Meme of the Day:
Trade well,
T2 Markets
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