Hey friend,
No big releases on the calendar today.
Next week, we get big inflation numbers – which will influence the market’s expectations of a Fed rate cut in September.
The Daily Direction
Note: All indexes – except the Nasdaq – closed lower yesterday. But they all opened higher today. Still, no change in any index directions.
The Daily Nugget
Resist the need for certainty.
As humans, we psychologically hate uncertainty and crave certainty.
You see this tendency everywhere – from politics to the markets.
But in the markets, the best traders know how to resist the need for certainty…
And to play the odds instead.
Because the truth is, the only thing that’s certain in the markets is that nothing is certain.
Even Head Trader Ross Givens frequently and openly admits he doesn’t know for sure what’s coming next.
Sure, he’s made a lot of calls that have proven right – from the April lows to the November 2024 rally to all the various pullbacks.
But these calls were all made on probabilities not certainties.
So beware of those trying to sell you certainty – because they’re trying to pull the wool over your eyes.
And more importantly…
Resist the emotional need to always look for certainty in the markets…
Because it never existed – and it never will.
Enjoy the weekend.
The Traders Agency Team
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