Is the Storm Over?

Hey friend,

We got consumer sentiment data this morning, which showed US consumer sentiment remaining one of the weakest on record.

Let’s see how the markets have been moving.

The Daily Direction

Note: Indexes closed sharply higher yesterday, and opened higher today, where – to no surprise – they’ve been whipsawing. No change in any index directions.

The Daily Nugget

A good week doesn’t mean the storm’s over.

The market had a good week.

Strong bounce. Good momentum.

But let’s not get ahead of ourselves.

Volatility’s still high.

The big picture hasn’t changed much…

And we’re still a long way off from new highs.

As Head Trader Ross Givens said, this recovery won’t be a smooth one.

This is where staying flexible matters most.

Not locking yourself into a view…

And not forcing trades that aren’t there.

Stick to the process. Stay patient.

And keep leaning on the people who’ve been through this kind of market before.

Have a good weekend.

The Traders Agency Team