Hey friend,
Despite the shutdown, we still got some consumer sentiment data this morning.
As expected, it remained subdued – about flat from last month.
Next week is supposed to be the major CPI report.
But will it be delayed because of the shutdown?
The Daily Direction
Note: All indexes pulled back a little yesterday and opened higher today. But thanks to Trump’s threat of “massive” tariffs on China, all indexes have been dipping – sending all short-term index directions downward.
The Daily Nugget
“Charts enable us to see what’s going on in a particular stock as buyers and seller come together in an auction marketplace. They distill the clash for emotional and logical decisions into a clear visual display.”
~Mark Minervini
Markets are messy.
That’s just the truth of it.
Prices move for a thousand reasons – some rational, some emotional, and some we’ll never fully know.
But that’s the beauty of a price chart.
It doesn’t try to explain all that – it just shows what actually happened.
Buyers stepped in here. Sellers backed off there.
That’s what the above quote means – charts distill all that noise into something practical…
Something you can actually work with.
That’s also why Head Trader Ross Givens leans so hard on chart patterns.
It’s far from the only tool in his toolkit – but it’s an indispensable one.
Because charts simplify things.
They give you a visual way to see when something might be shifting, when pressure’s building, when a stock is shaping up the way we’ve seen before.
It gives us a framework to focus on what matters – and filter out what doesn’t.
Of course, reading patterns takes practice.
The details matter. The timing matters.
And the nuances – the subtle shifts Ross watches for every day – can make all the difference.
That’s what makes experience so important.
What the expert sees, the beginner can miss completely.
We’ll be back next week.
Have a great weekend.
The Traders Agency Team