Hey friend,
Earlier this morning, we got the (delayed) PCE data – the Fed’s preferred inflation gauge.
It showed September inflation hitting 2.8% annually and 0.2% monthly – slightly below expectations.
We also got consumer sentiment data, which showed a surprising reversal – a modest improvement that was ahead of expectations.
Let’s see how the markets have been moving.
The Daily Direction
Note: Indexes closed mixed yesterday and opened higher this morning – with all index directions remaining in the green.
The Daily Nugget
Price speaks louder than words.
Actions speak louder than words.
And there’s a reason they call it price action…
Because the only way for something to be reflected in the price…
Is for someone to take action – by either buying or selling.
That’s why price always speak louder than words.
Words can be useful – but price has the final say.
And to skilled traders, the price action is like words.
They tell a story…
A story of what people are acting on, what they believe, and what they’re likely to do.
That’s something that can only come from deep experience.
And that’s what makes what Ross is sharing so valuable.
Because everybody everywhere is being bombarded by noise…
And getting sucked in to all this noise is how most people end up completely misinterpreting the market…
Causing them to make the wrong, money-losing moves.
So, before you head out for the weekend – just remember this.
People can talk all they want.
But unless they can show you how what they say is being reflected in the price…
It’s all meaningless.
Have a good weekend.
The Traders Agency Team
