Hey Traders,
Ever had a moment where something was sitting right in front of you the whole time — but you just couldn’t see it?
Maybe it’s your sunglasses on your head. Or your keys, sitting right there on the counter while you tear the house apart looking for them.
You feel a little silly once you finally spot it. But it happens to everybody.
And the same thing happens in the market — all the time.
The last few days have been a perfect example.
Markets went into Friday gapping down on news of something. I think it was tariffs.
But despite gapping down, did you see where SPY bounced?
Right at its underlying support trendline.
Then over the long weekend, news came out the Trump was backing off from those tariffs and Monday we saw an even bigger gap up.
It’s Not The News
But here’s the thing: there’s always a reason in the news. If the market had gapped up on Tuesday, the headlines would’ve had a different story. They always do.
But if you’ve been following along with me — drawing your trendlines, watching the structure — you already know the real reason things happened the way they did.
The SPY dropped… and bounced right off its supporting moving average.
Same with DIA. QQQ didn’t even get that low — it stayed strong, well above its key support levels.
Funny how those moves always come right at the exact levels we’ve been watching.
On the way down earlier this year, markets slipped below their major moving averages and couldn’t break back above them. Every rally smacked into resistance.
Now? The script’s flipped.
We’re above those trendlines. And wouldn’t you know it — they’re acting like a floor now. Holding the bounce. Creating support.
It’s just structure.
It’s how the market works.
And once you learn to see it, you stop chasing headlines. You stop second-guessing yourself. You just follow the lines and let them show you what matters.
Markets On Edge
Now, I’ll say this — markets seemed a little on edge today. Not falling. Not rallying. Just kinda jittery.
That’s probably because NVDA earnings are coming after the close.
Now, you know I’m not a big fan of trading off the news — and I certainly don’t recommend placing a trade because of some earnings report.
But when a fish that big is splashing around in the pond, it’s good to at least be aware.
So stay alert, keep your setups tight, and remember…
Just like your keys being right under your nose — the market’s giving you the answer. You’ve just got to look where it actually is.
Trade well,
Jack Carter
P.S. Have you seen this brilliant way Geof Smith is playing the gold supercycle?
