Hey friend,
The big unemployment number came in this morning.
It showed the topline rate easing to 4.4%, although it also showed job growth slowing to 50k in December – below the expected 60k.
Next Tuesday, we get the major CPI inflation data.
The Daily Direction
Note: Indexes closed mixed yesterday but have been largely higher today (with the exception of the Nasdaq). No change in any index directions, which remain upward.
The Daily Nugget
Breathers can set up breakouts.
For the past couple of months, most indexes have been on a “breather”.
Considering how much worries about an AI bubble are floating around…
It’s not surprising that there are many that are waiting for this breather to turn into a breakdown.
Now, we’re not saying that outcome is impossible.
But according to all the data Head Trader Ross Givens is looking at…
It’s very unlikely.
In fact, the more likely outcome is for this breather to turn into a breakout instead.
This is a classic pattern…
And since stock markets tend to go up in the long term over time…
As a whole, breathers tend to be setups for breakouts more often than not.
That’s what Ross has been seeing right now…
And he’s been spotlighting ways to take maximum advantage of it.
That will continue next week – so keep a look out for that.
In the meantime, have a good rest – and enjoy the weekend.
The Traders Agency Team
