Hey friend,
The only thing on the economic calendar today was the monthly small business optimism index, which showed an unexpected increase (although overall results were still slightly pessimistic).
Tomorrow morning – the big CPI report.
The Daily Direction
Note: All indexes closed flat or slightly higher yesterday. They opened higher this morning and have been moving up throughout the day. No change in any index directions.
The Daily Nugget
Skepticism can persist far longer than the price action indicates.
There’s a popular saying in investing – the market can remain irrational far longer than you can remain solvent.
It’s basically a caution against those who short the market because they are certain the market is in a bubble and that a crash is inevitable…
Only to find themselves being forced to close their positions as the bubble persists far longer than they expect.
Today’s nugget is a parallel of that common investing saying…
Traders can remain skeptical far longer than the price action may indicate.
Right now, the market appears to be clearly breaking out of a textbook consolidation period.
And yet, skepticism remains high…
And will likely persist until the market hits new highs – or even beyond that.
Those who wait until that happens will find the most lucrative opportunities already snapped up.
Don’t let that be you.
Tomorrow afternoon at 3 p.m. Eastern…
Head Trader Ross Givens is going LIVE to show you an underground strategy for positioning yourself alongside some of the smartest traders in the market…
So you can take advantage of the biggest “early breakout” gains.
Click here to register for his live strategy session tomorrow…
And he’ll see you Wednesday afternoon at 3 p.m. ET.
The Traders Agency Team
P.S. Planning to attend on a mobile device? Make sure you download the presentation apps now so you don’t miss a second of valuable information.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
