7,000 on SPX? Here’s How I’m Trading It

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Thursday, August 14th

“We become what we behold. We shape our tools and our tools shape us’”

– Father John Culkin

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Markets Today

🌏 Asia-Pacific: Down

🇪🇺 Europe: Up

🇺🇸 United States: Down

🛢️ Oil: Up

⚡Crypto: Down

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Major Market Events

Inflation Shocker! — PPI (Producer Price Index) jumps most in 3 years, fueling inflation concerns and impacting Fed rate-cut hopes
Markets slip — Predictably, Stocks pulled back after wholesale inflation surprise; tech and consumer sectors under pressure
Jobless Claims Tick Lower — Weekly filings drop in latest report, signaling hope for job hunters

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🤔 My Thoughts

7,000 on SPX? Here’s How I’m Trading It

A fast SPY checklist you can use today

I took a quick SPY scalp trade on yesterday’s Profit Panel show: In on the morning push… Out on the next burst. Quick base-hit gain. That’s the kind of trade I want early: simple, tight, done.

I used my Wave Trader indicator to simplify the setup, but you could replicate it right at home with no special tools.

Here’s the short version I use when I want one clean trade. I’m did this on a chart with 2 minute candles:

1) Start with VWAP. VWAP = Volume Weighted Average Prices and most platforms let you add it. I consider that the “fair price” line for the day.
2) Add a fast/slow pair. I like a 9-EMA and a 20-EMA.
3) Wait for the first clean push. If price holds above VWAP and the 9 sits over the 20, I take the tap-and-go.
4) Keep the stop tight. Lose VWAP with a close? I’m out.
5) Take the base hit. First target is small. I scale and reset.

Now the big picture. I said on the show I think SPX can tag 7,000 this cycle. Kane pegged 6,700 to 6,800 as the near-term zone. Different paths, same idea: strength until the tape proves otherwise.

Here’s how I trade between those goalposts:

Bias: I stay net-long while VWAP holds on the 30–60 min view and pullbacks get bought.
Entries: I prefer dips to VWAP or the prior day’s high that hold on a retest. No hold, no trade.
Exits: I take money faster as we stretch into a round number (6500, 6600, etc) or a fresh high. I don’t argue with a stall.
If we snap: First close under VWAP and I stop trying to buy every dip. I let the tape reset and look lower for the next clean level.
Size: Small. I’d rather stack two base hits than chase one home run.

Why this works for me: I get the upside if the melt-up continues, but I’m not a hostage if it doesn’t. One clean read. Tight risk. Cash in hand.

We’re back at it today with more smart, under-the-radar edges and simple plans you can actually use.