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I stepped back from my usual Friday trading rhythm last week, and that’s not something I do lightly.
Normally, Fridays are day-trade days for me. I keep it simple, tactical and I don’t overthink it. But last Friday, I sat on my hands.
The reason was straightforward — I was out of sorts with what was happening in the markets.
Everything had been whipsawed in a way I hadn’t seen before. One day nothing was green. The next day nothing was red. And when things moved, they all moved together — stocks jumping between 8-18% in the same direction.
That wasn’t rotation. That wasn’t selectivity. It was pure violence.
Part of what threw me off was the sheer inconsistency in the tape.
When numbers that are supposed to anchor you feel unreliable, it adds another layer of chaos.
So I did what I always do when something feels off. I tested my gut against the data.
I Pulled Up the Charts From 2018
I wanted to know whether this kind of price action was normal and I’d just forgotten, or whether we were actually dealing with something abnormal.
I went back and pulled SPY charts from 2018 to look at the gaps and swings. Compared to what we’re seeing now, that price action looked almost calm.
There were gaps. There was volatility. But it didn’t have this relentless whip in both directions day after day.
My Profit Panel co-host, Geof Smith, pointed out that the S&P 500’s intraday range had recently been around 101 points, when a more typical day might be 50 to 60.
When daily ranges effectively double, that’s a signal that something has changed.
Maybe it was election volatility. Maybe weekly options were amplifying every tick. Maybe it was something else entirely.
Whatever the cause, the effect was the same — even seasoned traders were feeling disoriented.
What I’m Doing About It
I’m not forcing trades in an environment that doesn’t make sense to me. That’s the short answer.
If you’ve been wondering why I wasn’t as active with setups last week, this is why. I don’t trade for the sake of trading. I trade when rhythm and probability line up.
Right now, the rhythm has been jagged, and I’d rather watch than guess.
Did that mean I was bearish? No. Bullish? Also no.
It meant I was waiting for something that looked like a trend instead of a pinball machine.
If you felt the same way last Friday, you weren’t alone.
Sometimes the best trade is no trade. And last Friday, that was mine.
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To better trading,
Alex Reid
WealthPin
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.Â
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