SPX Wedge: Is $8,000 The Next Stop?

2026-07-14 / John Carter

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The SPX is sitting in a big wedge with ideal squeezes firing on the 4-hour, 2-hour, and 30-minute charts, so I am leaning toward at least one more pop before this move is done. I am long the names that look strong to the upside, not shorting the top, while I keep a close eye on my exits.

Tomorrow night, Henry Gambell is breaking down one of his go-to options strategies: the unbalanced butterfly. He’ll show how this setup can help traders define risk, target directional moves, and structure trades with a clear plan before entering.

2026 Q3 HG Unbalanced Butterflies – WR1

John Carter

John Carter’s father was a Morgan Stanley stock broker. One day during high school, John came home from the mall where he was working at a store making cookies. He had saved up $1,000 over the course of a few months and his dad told him that he and some of his friends were going to buy “some call options on Intel” the next day. With his father’s direction, he bought 10 call options at $0.75, and sold them a few days later for $1.50, doubling his money. He was hooked and has been trading ever since—going on 25+ years now.