Hello traders,
It’s Wednesday morning, June 25, and the screens are calm. Almost too calm.
S&P futures are barely moving, the VIX is cooling off, and the usual pre-market buzz feels more like a whisper. But this kind of environment? It’s exactly when I pay the most attention.
Yesterday’s price action told a story.
The geopolitical tone shifted dramatically lately with a ceasefire agreement between Israel and Iran.
Oil dumped, equities rallied. It wasn’t explosive, but it was decisive.
And when that kind of relief hits the tape, you have to ask—was it a one-off headline, or is the market truly breathing easier?
I didn’t chase the bounce. Instead, I watched how the S&P responded into the close. Clean structure, rising internals, and controlled volume told me buyers weren’t just reacting emotionally, they were positioning deliberately.
Inflation’s easing, but not “mission accomplished.” Rates haven’t budged, but bond yields aren’t screaming panic either.
So what do I do as a trader in this kind of tape?
I slow down. I get surgical.
I’m not here to guess the next headline. I’m here to see how the market reacts to what’s already known.
And right now, we’ve got two themes clashing: the calming of geopolitical fear and the waiting game on Fed policy.
Today, I’m treating the open like a test.
If buyers step up again and hold the line, maybe we get continuation. If they don’t, I’m not forcing anything. Sitting flat is underrated in this kind of environment. You preserve capital, but more importantly, you preserve clarity.
If this market feels like it’s testing you, that’s because it is. Volatility rewards the prepared, not the reckless. Learn how I manage size and stay sharp when things get wild.
This job isn’t just about hitting buttons when things move. It’s about knowing when not to. That’s what keeps your edge sharp.
See you in the next one.
Imre Gams
Editor, The Trading Room
