Hey friend,
We got some retail sales and housing market data this morning.
Retail sales showed a strong increase after last month’s dip – one that also came in ahead of expectations.
However, housing prices came in somewhat below expectations.
Of course, the big news is the Fed decision – and post-decision press conference – happening in a couple of hours.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower yesterday but opened generally higher this morning – sending the medium-term directions of the S&P 500 and the Nasdaq back into upward territory.
The Daily Nugget
Don’t confuse a catalyst with a setup.
A Fed decision can send a stock flying.
So can earnings.
A new contract.
A takeover rumor.
Whatever.
But the headline itself doesn’t automatically give you a good trade.
The setup should already be there.
Maybe the stock has been tightening up for days.
Maybe there’s a clear resistance level.
Maybe you already know where you’d get out if the move fails.
Then the catalyst hits and suddenly buyers push it through.
That’s very different from seeing a stock jump 10% on news and deciding you need to get involved.
One is a setup getting triggered.
The other is just a move you noticed late.
So this afternoon, don’t ask which stock reacted the most.
Look for the stock that was already set up well before the reaction came.
The Traders Agency Team
P.S. In just a few hours at 3 p.m. Eastern today, Ross is sitting down for a LIVE post-Fed strategy session.
He’ll break down the market’s reaction and show you the breakout pattern that appeared before moves like:
Rhythm Pharmaceuticals’ +163% in seven weeks…
Nine Energy Service’s +270% in 10 weeks…
And Iris Energy’s +148% in just two days.
He’ll also show you how he uses the setup to determine where to buy, where to take profits, and where to get out if the trade fails.
Click here to lock in your free seat for today’s LIVE session if you haven’t yet…
And Ross will see you in just a bit at 3 p.m. ET.
P.P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
