Hey friend,
The latest Producer Price Index report bolstered sentiment that inflation may finally be cooling for the long haul.
Still, it’ll probably take a few days for the market to fully digest the combination of the inflation data and the Fed’s comments.
The Daily Direction
Note: It was a divergent day for the indexes yesterday, with the S&P 500 and Nasdaq rising, while the Dow Jones and the Russell 2000 fell. As a result, both the short and medium-term directions for the Russell 2000 flipped back downwards.
The Daily Nugget
It’s generally safer and more profitable to buy strength instead of weakness.
Many traders dream of buying that stock that’s been falling for months – or even years – right before it suddenly blasts off.
It’s easy to see why…
But the reality is that buying weakness is generally a recipe for disaster…
And buying on strength – even if it seems like the max upside is lower – is usually the safer and more profitable path, especially over a longer time frame.
Right now, the market is still very strong – with many stocks (not just the big popular ones) hitting new highs.
Don’t be intimidated by strength – leverage it instead.
Most of Ross Givens’ trading strategies are all about leveraging the market’s strength.
And earlier this morning, he went live for a masterclass that could have shown you how to use his favorite chart pattern of all time to target the strongest stocks in a strong market.
Those who attended the live masterclass are probably placing their high-impact trades as you read this…
So if you missed out earlier today…
Make sure you click here to watch the masterclass replay before it gets taken down.
The Traders Agency Team
