Ep194: Crude Oil and SPX: Current Market Setup Analysis

So then welcome back traders, it's Phil and let's just take a quick look at the charts now the volatility expansion has been once again discounted we did see a couple of days of brief excitement just in last week coming into this week we see that the The market is really just flatlining again on the main index, even gold crypto is just doing absolutely as my old Pat used to say, SFA, sweet fanny adults.

Now there's still intraday profits to be had and the moves are developing, they're just really contracted, they're really stretched thin.

and we're just not seeing more than spot fizz on the majority of the movements we're seeing a quick sharp movement and then it's stopping sometimes for two or three days so swinging big and you know aiming for the fence as it were it's just not happening but just not yet again we are still in that pre Crash window September, October.

I do think there's a big move on the horizon.

I think what we're looking at is an orderly unwinding of market positions before the eventual pop and drop.

We do need a market reset in that fast move in a short space of time.

10% in 10 days seems reasonable.

The VIX did attempt to nudge above 16 yesterday.

Mainly on the back of a little bit of an intraday news find, price just jumped and then pretty much sprung back in the opposite direction before it fizzled out.

So there's just not a lot to once again discuss or get excited about other than, you know, patience is really the key here.