Hey friend,
The only thing on the economic calendar this morning was existing home sales, which came in below expectations.
Tomorrow, we’ll get the Producers Price Index data.
After last week’s hot CPI print, investors will be watching to see how producer prices are holding up.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed slightly lower on Friday and have been moving mixed today. No change in any index directions.
The Daily Nugget
Only take your highest-probability setups… BUT don’t treat any trade as your highest conviction position.
That matters even more in a volatile market like this one.
When conditions are unstable, even strong setups can fail faster than expected.
A clean entry can lose momentum quickly.
A good-looking chart can get knocked off course by headlines, sharp rotation, or a sudden shift in sentiment.
That is why discipline has to stay tight.
You still want to be selective. You still want to wait for the setups that give you the best odds.
But once you are in, you cannot afford to treat any single trade like it is special or certain to work.
Do not oversize it.
Do not get emotionally attached to it.
Do not give one position more trust than the market has earned.
In this kind of environment, the edge is not just finding strong setups.
It is staying disciplined enough to manage every trade with respect for how quickly conditions can change.
Of course, you still need to know how to find these strong setups amid the noise in the first place.
And tomorrow morning, Head Trader Ross Givens will share something on how exactly to do this.
In the meantime, he’s shot a free video on a new 401(k) “trap” that every American needs to be aware of.
If you haven’t watched that video yet…
The Traders Agency Team
