Hey friend,
Despite yesterday’s hot inflation report, indexes did not drop as much as expected.
This morning, we got the latest weekly jobless claims and Producer Price Index data.
The jobless claims dropped again from last week, and came in slightly below expectations.
Just like yesterday’s CPI report, PPI data also came in hot.
Still, markets opened higher on the news.
The Daily Direction
Note: Indexes opened sharply lower yesterday but regained significant ground throughout the day. All indexes opened higher today, and most have been moving higher this morning as well. Only the Russell 2000 has any directions in the red.
The Daily Nugget
“Stock prices move in virtually the same fashion today that they followed in the past.”
~Mark Minervini
If you took away the name of the stock and the dates…
But compared the price chart of a tech stock from the past couple years with a railway stock from decades ago…
You probably would not be able to tell which was which.
Because the truth is, the way stock prices move in the past is the same as the way they move today.
The news headlines, companies, and business models might be different…
But you won’t be able to tell it from looking at a price chart.
That’s why the classic chart patterns have such high predictive value – even until today.
Earlier this morning, Head Trader Ross Givens explained a bullish pattern forming in the markets…
One that most traders are blind too.
And tomorrow morning at 11 a.m. Eastern…
He’s going LIVE for a training session to show you how to play this pattern…
By using a technique for spotting setups with massive potential amidst all this uncertainty.
These setups have led to fast moves like 102% in 12 days, 150% in seven days, and even 118% in just two days.
So click here now to register for Ross’ live training session tomorrow…
And he’ll see you at 11 a.m. ET Friday morning.
The Traders Agency Team
