Markets React. We Follow the System.
Ahoy there Trader! ⚓️
It’s Phil…
What a way to start the week – a clean gap down on Monday, straight into continuation mode, and our old friend the Wolfe Wave still doing the heavy lifting.
Now, I missed the perfect 0-DTE setup at the open yesterday. Real life called — hospital run, charts off, priorities on. That’s why I never rely on just the day trades. My swing trades were already on, and they handled business while I handled mine.
No FOMO. No chasing.
Just the system doing its job.
Today, I’m looking for a potential re-entry near 5200 (should there be a hint of a rally). The setup remains bearish under 5400, and that Wolfe Wave target around 5000 is calling like a bear with a megaphone.
If we get there? I’ll be assessing for a reversal for a push higher – maybe even a spot for the bulls to finally do something useful.
Now, let’s talk about what I’m watching today, and where the next trigger might hit.
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SPX Market View
The Wolfe Wave setup continues to play out beautifully, with Monday’s gap and drop pushing price deeper into the pattern. The swing trade is live, the target is still in sight, and the system remains in sync.
The immediate plan?
I remain bearish below 5400 and am watching closely for a clean re-entry opportunity near 5200. That zone could offer the next pulse bar or tag ’n turn setup.
But that’s not the only level on my radar today…
Thanks to the recent sell-off, GEX levels are flaring. So far this week, 5100 is emerging as the magnet and also held as support for the day, with concentrated gamma clustering around it. I’ll be watching for intraday GEX shifts and overhead resistance points to help fine-tune entries.
As usual, the entry conditions are mechanical:
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Bearish pulse bars
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10-minute tag ’n turn triggers
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And of course, price behaving like it actually wants to go down
If we break lower and hit 5000, that’s the Wolfe Wave’s target zone. (GEX should also assist an accelerated move through 5100). At that point, I’ll reassess for reversal potential and watch for signs of the bulls attempting to tag in.
But until that happens…
The swing is working. The system is guiding. I’m waiting for the next shot.
Expert Insights: Common Trading Mistake & How to Avoid It
❌ Forcing re-entries too early
Just because Monday worked doesn’t mean Tuesday owes you a replay. Many traders jump in too fast, chasing the momentum candle instead of waiting for the setup.
✅ Let price come to your levels
I’m watching 5200 for a reason. That’s where the next trigger might align — not where your emotions want to get in.
Let the pulse bar fire. Let the GEX confirm. Then act.
It’s not just about being right.
It’s about being in the right place at the right time – with a plan.
Fun Fact – Fun Market Fact – Gamma Loves Drama
Did you know… the more the market drops, the more gamma wants to party?
Negative gamma isn’t just a boring options stat. It’s fuel.
When gamma flips negative, market makers hedge in the same direction as the price move – which amplifies it.
So instead of stabilising things…
They pour petrol on the fire.
That’s why levels like 5100 suddenly matter this week.
That’s where gamma wants to drag price – and it doesn’t care if your indicators agree.
So if you’re wondering why that last candle exploded?
Check the GEX. It probably wanted the same thing you did… just faster.
Happy Trading,
Phil
📉 SPX’s story is only half the plot.
You’ve seen the SPX , but you’re missing the macro moves, crypto chaos, and the real reason gold’s stealing the spotlight..
⚡Get the daily newsletter – short, sharp, and brutally honest.