The government narrowly averted a shutdown, which probably gave stocks a little boost despite Treasury yields continuing to surge.
How have markets been moving? In a word – mixed.
The Daily Direction
Note: The NASDAQ closed higher, the S&P 500 closed flat, while both the Dow and Russell 2000 index closed lower yesterday, with the Russell in particular notching another heavy losing day. No change in any index directions.
The Daily Nugget
Another useful skill – being able to differentiate between technical bounces versus sustained uptrends.
Markets can go up during a longer-term downtrend – just as they can go down during a longer-term uptrend.
In the former, these are called technical bounces – where markets get a bit too oversold and rise a little bit to compensate…
But without affecting the larger downtrend as a whole.
If you mistake a technical bounce for a sustained uptrend, you could land yourself in trouble.
And if you mistake the start of a sustained uptrend for a technical bounce, you could miss out on opportunities.
This is why understanding how to differentiate between the two is so crucial.
One way to tell is institutional participation.
These are the big market movers that can start – and sustain – a longer-term uptrend.
And if you know how to “follow” their moves, you can really stack the odds in your favor.
That’s why Ross Givens’ flagship strategy is all about targeting these institutional moves…
And because market conditions have been so tough for the past couple months…
The Traders Agency Team