Hey friend,
Over the long weekend, there was news that U.S. job growth was overstated by 1 million in 2025 – the largest annual revision in 20 years.
We also got some manufacturing data, which showed a modest improvement in February that came in slightly ahead of expectations.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower last Friday and have been moving lower today as well. The short-term direction for both the Dow and the Russell 2000 have flipped downward.
The Daily Nugget
In the markets, price and narrative are inseparable.
Which came first – the chicken or the egg?
Which came first – the price or the narrative?
There’s no clear answer.
But the fact is – both feed into each other.
Sometimes we see a big price move happen – and then the narrative emerges to justify the move.
Other times, we see a highly compelling narrative emerge – which then drives the price.
And both create reinforcing loops.
If the price moves first and the narrative emerges second – the narrative that appears will support the price and cause it to run further.
If the narrative appears first and causes the price to move – the price action will attract further action which will then lend further credence to the narrative.
They’re both intertwined and inseparable.
This bothers some traders.
But for smart traders, this is actually good news.
Because they realize they don’t have to “choose” between price and narrative.
They can use both of them to spot opportunities…
Essentially giving them two different lenses for targeting opportunities.
If you study Head Trader Ross Givens’ strategies, you’ll see this principle in action.
He has strategies that hunt for opportunities based on price…
And others that hunt based on narrative.
And every week, Ross goes live to break down the market and show you how to hunt for hidden opportunities.
And for today only – the LAST day of our President’s Day sale…
You can get access to one full year of these weekly live sessions for just 99 cents.
This deal expires after today…
The Traders Agency Team
