Hey friend,
As this is a light week, nothing major on the economic calendar today.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed higher yesterday but have been a bit more mixed today. No change in any index directions.
The Daily Nugget
A tailwind isn’t a trade.
There are times when the market gives you a better backdrop.
Seasonality improves.
More stocks start working.
Breakouts get better follow-through.
That’s great.
But it can also make traders a little too eager.
You hear that the next few months have historically been strong and suddenly every half-decent chart starts looking like a buy.
That’s backwards.
A favorable market can improve the odds behind a good setup.
It doesn’t turn a bad setup into a good one.
The stock still needs to give you an entry.
You still need to know where you’re wrong.
And the chart still needs to behave the way your strategy calls for.
So use a strong seasonal window for what it is:
A tailwind.
Then make the individual stock earn the trade.
The Traders Agency Team
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