Hey friend,
No big data releases today, though we have some Fed speeches on deck.
Tomorrow, we get jobless claims, productivity, and consumer credit data.
The Daily Direction
Note: All indexes closed lower again after Monday’s rebound yesterday and opened higher this morning – a sign of a choppy market. All index directions are now back upward – but barely.
The Daily Nugget
Every pullback feels unique until you zoom out.
When you’re in it, every pullback feels different.
And it’s somewhat true – the headlines, the narrative… they will all indeed be different.
But when you zoom out and look at the price action…
At the charts that tell you exactly how the battle between buyers and sellers are playing out…
Suddenly, things don’t look so different.
Suddenly, the pullback looks like what so many others have…
Weak hands capitulating after a strong rally…
Which is usually followed by the rally continuing upwards.
When you distill it down to the essence of trading – the tug-of-war between buyers and sellers…
The picture often becomes much clearer…
And so do your next steps.
The Traders Agency Team
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