Hey friend,
Nothing on the economic calendar today.
A pretty light week on the economic news front overall.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower again yesterday but opened higher this morning – sending the short-term direction for the S&P 500, the Dow and the Russell 2000 back upward.
The Daily Nugget
Buyers watch other buyers,
People like to think they make investment decisions independently.
In reality, buyers watch other buyers.
A stock starts showing strength.
That strength attracts attention.
More traders put it on their watchlists.
Funds begin adding positions.
Then the stock breaks through a level everyone has been watching…
And a small stream of buying can suddenly turn into a flood.
That’s why breakouts can move so fast.
The first buyers push the stock toward resistance.
The breakout brings in a second group.
Then momentum traders, algorithms, and traders afraid of missing out add even more demand.
But there’s a big difference between spotting the herd as it begins to gather…
And chasing it after the stampede is already underway.
The first can lead to an excellent setup.
The second can leave you buying right when early traders are ready to take profits.
So the goal is not simply to find a stock going up.
It’s to recognize signs that often appear just before a much larger wave of buyers arrives.
That’s what Ross and his team go LIVE to show every week.
And if you want to join these live sessions…
It’ll cost you just $5 for an entire year thanks to our “Christmas in July” sale.
The Traders Agency Team
