Hey friend,
The only thing on the table this morning was manufacturing data.
The data was mixed, with one manufacturing gauge coming in slightly ahead of expectations while another was slightly below.
Next week, we’ll get some big employment data.
The Daily Direction
Note: All indexes rebounded higher yesterday and opened higher this morning taking the S&P 500 and the Nasdaq back to all-time highs. All index directions remain upward.
The Daily Nugget
Pullbacks after strong rallies always feel worse than they actually are.
After a strong rally, even a normal pullback can feel heavier than it really is.
When prices have been climbing fast, traders get used to green screens, quick recoveries, and momentum doing most of the work.
So when the market finally takes a breath, it can feel like something has changed overnight.
But pullbacks are part of healthy rallies.
They shake out late buyers, test conviction, and give stronger stocks a chance to reset before the next real move.
The key is not to treat every red day like a warning sign.
A softer tape after a blazing run does not mean the opportunity is gone.
It means traders need to slow down, be more selective, and let the best setups show themselves.
Most importantly, it’s important to remind yourself that it’s completely normal…
And something you WANT to happen.
Have a good weekend.
The Traders Agency Team
