Treasury yields retreated slightly after briefly breaching the psychological 5% mark late last week.
But all indexes still ended lower, posting weekly losses. Of course, Powell’s comments that current monetary policy was “not overly tight” didn’t help things.
The Daily Direction
Note: The move lower last Friday sent the long-term direction of the S&P 500 into negative territory. The last time this happened was in early March this year. If buyers don’t step in, Ross’ prediction will likely play out as the market makes a final flush lower.
The Daily Nugget
Your ability to win in the long term is highly correlated to your ability to lose in the short term.
Are you willing to lose in the short-term – say by willingly exiting trades that have hit your (tight) stop losses?
If you’re not, the bad news is you’ll likely lose in the long term by biting off more than you can chew.
But if you’re willing to accept these (predetermined) short-term losses, you have the best chance to win in the long term…
Because you’ll actually be able to survive in the long term, all while becoming better and better along the way.
You stay in the game, and you get progressively better at it. That’s how you win.
Of course, this doesn’t mean you will always lose in the short-term – just that you must be prepared to stick to your risk management principles.
In fact, despite the market trending lower right now (and likely to continue to do so in the coming days)…
You could still go after quick profits with the right strategy…
A strategy that Ross Givens is going live tomorrow at 12 p.m. Eastern to show.
Because this strategy works best in a very specific opportunity window…
A window that’s opening right now.
So make sure you seize it by saving your seat…
And Ross will see you tomorrow.
The Traders Agency Team