Hey friend,
We had some new retail sales data this morning.
It showed a 0.2% growth in retail sales – as expected – but far below last month’s numbers.
That said, weekly jobless claims numbers also came in below expectations and last week’s figures.
The Daily Direction
Note: All indexes closed higher yesterday but opened mixed this morning. The medium-term direction for the Nasdaq slipped back into downward territory.
The Daily Nugget
In the markets, being early and being wrong often look identical.
Traders love getting in before everyone else.
The problem is, a stock can keep falling long after you decide it looks ready to move.
You may eventually be proven right…
But that doesn’t help if the stock shakes you out first.
Good traders don’t always try to predict exactly when buyers will arrive.
They let the market make the first move.
They wait for buyers to show up…
For resistance to break…
And for the chart to confirm that the move may finally be underway.
Yes, that means giving up the first few percentage points.
But it also helps you avoid plenty of false starts.
That’s the trade-off:
You don’t need to be first.
You just need to be there when the real move begins.
That’s why tomorrow morning…
Head Trader Ross Givens will be sharing exactly how to “be there” when the big move is about to begin.
So keep an eye out for the relevant email in your inbox.
In the meantime, did you know that the last time this event happened, stocks blew up?
The Traders Agency Team
