Hey friend,
This morning we got preliminary data on the trade deficit – which was much smaller than expected.
We also got consumer confidence data, which showed a slight rebound in July.
Finally, we got the big job openings numbers. This one however came in below expectations by 120,000 (7.43 million actual vs. 7.55 million expected).
Tomorrow – the big Fed decision and Powell’s market-moving press conference, plus more employment data.
The Daily Direction
Note: Indexes closed mixed yesterday and opened higher this morning – but have been moving lower since. No change in any index directions.
The Daily Nugget
Contrarianism and trend following are not mutually exclusive.
Effective trading always requires some level of contrarianism.
If you want to beat the herd…
You have to be willing and able to zig while others zag.
With that being said, this does NOT mean that being contrarian all the time is effective.
In fact, doing that is just a recipe for melting down your account.
There’s a reason a popular trading saying is – the trend is your friend.
So the question is, how do you reconcile following the trend with the necessity of being contrarian to beat the herd?
Simple.
You ride the trend’s tailwind…
But focus on the “ignored” stocks with the potential to blast off far above the market.
And that’s exactly what Head Trader Ross Givens is going LIVE to show you tomorrow, Wednesday afternoon at 3 p.m. Eastern.
It’s all about spotting a little-known pattern that’s preceded fast gains like 63% in 7 weeks… 270% in 10 weeks… 177% in 11 days… and even 148% in just 2 days.
And with so many market-moving catalysts happening this week – from the Fed meeting and inflation data to GDP numbers and Magnificent 7 earnings…
We could see a handful of stocks rocket higher in mere days…
And the pattern Ross will be demonstrating tomorrow will likely be there for all of them.
So click here to register for his June 30 masterclass…
And he’ll see you tomorrow afternoon at 3 p.m. ET sharp.
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
