Hey friend,
We got some small business sentiment data this morning.
Sentiment came in slightly higher than forecast as well as compared to last month.
But the big news this week will be tomorrow’s CPI report.
Let’s see how markets have been moving.
The Daily Direction
Note: All indexes closed slightly lower yesterday and opened marginally higher today. No change in any index directions – which all remain in the green.
The Daily Nugget
Don’t reinvent the wheel.
Traders love finding something new.
A new indicator.
A new screen.
A new strategy nobody else has heard of.
But “new” doesn’t automatically mean better.
Some trading setups have been around for decades for a simple reason:
They still work.
The market changes.
Technology changes.
The stocks everyone talks about change.
But human behavior doesn’t change nearly as much.
Fear still causes people to dump good stocks.
Greed still makes them chase.
And when enough buyers pile into the same kind of setup, the price still reacts.
So before you spend hours trying to invent a completely new way to trade…
It’s worth asking whether someone has already solved the problem.
Find a setup with a long track record.
Learn what makes it work.
Learn when it tends to fail.
Then get very good at recognizing it when it appears.
The Traders Agency Team
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