Let’s see how the markets have been moving after the long weekend.
The Daily Direction
Note: Markets pulled back on Friday last week, but it was still the best weekly performance for the S&P 500 and NASDAQ since March. It was also the S&P 500’s fifth positive week in a row, while the NASDAQ was up 8 weeks in a row. All index directions remain solidly in the green.
The Daily Nugget
Pay attention to the “rhythm” of the market.
Just like a symphony, the market has a certain rhythm to its movements.
Experienced traders can easily recognize it – allowing them to stay calm while the masses lose their heads.
Take for example, what happens when a strong rally starts to falter – like what’s happening now.
Many beginner traders will tend to panic – to question whether it was a sucker’s rally all along.
Meanwhile, the experienced pro will glance at the charts and instantly be able to tell whether it’s just a natural pullback – or the end of the rally.
Right now, Ross Givens says it’s the former – just a natural pullback.
And instead of cause for concern, it’s cause for celebration…
Because like pulling back a rubber band, this pullback could be a profit trigger for certain stocks to slingshot much higher…
The Traders Agency Team