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The S&P 500 has been trapped in one of the tightest ranges we’ve seen in months… and most traders are getting chopped to pieces. In this Thursday market review, Sam breaks down the current SPX trading strategy, explains why a retest of the daily 200 could offer a high risk-to-reward butterfly setup, and reveals the critical divergence between software (IGV) and semiconductors (SMH) that could determine the next major move. ⏱ Timestamps 00:00 – SPX stuck in a 3-month tight range 01:05 – Short squeeze thesis review & Nvidia reaction 02:12 – New SPX butterfly trade (5:1 R:R setup) 05:40 – High compression squeeze pattern explained 11:08 – Software (IGV) bear trap vs SMH bull trap 14:33 – Squeeze Ultra scanner & ideal setups If you’re an active trader looking for structured SPX options strategies, ideal squeeze setups, and clearer market context, this breakdown will help you avoid “normie” thinking and trade with precision. Get access to Sam’s trade alerts and daily live trading sessions in the Mastering the Trade Room. Try a $7 trial here: https://lp.simplertrading.com/masteri... Follow Sam on Twitter/X: https://x.com/Sam_Shames_ ————— Our website: https://www.simplertrading.com/ Follow us: / simplerofficial / simplertrading / simplertrading #SimplerTrading #MarketUpdates #OptionsTrading Simpler Trading’s Traders and employees will NEVER manage or offer to manage a customer or individual’s options, stocks, currencies, futures, or any financial markets or securities account. If someone claiming to represent or be associated with Simpler Trading solicits you for money or offers to manage your trading account, do not provide any personal information and contact us immediately.