Hey friend,
The CPI data came in this morning…
And it was right in line with expectations, with a muted 0.2% monthly increase and a 3.4% annual increase.
While it’s definitely still way above the Fed’s 2% inflation target, it should give them more justification to keep rates steady.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed slightly lower yesterday. And while they opened higher today, they’ve been moving lower through the morning. No change in any index directions.
The Daily Nugget
The best trades often look boring first.
The stocks getting the most attention are usually the ones already moving.
They’re up 10% today.
They just broke to a new high.
Everyone on social media suddenly has an opinion.
But some of the better setups look completely different before the move starts.
The stock may spend days going almost nowhere.
It trades in a tight range.
Pullbacks get smaller.
Every attempt to knock it down gets bought.
From the outside, it can look boring.
That’s not always a bad thing.
A stock that can hold near its highs without giving much back is showing you that sellers aren’t having much success pushing it lower.
And if buyers eventually take control, all that quiet trading can give way very quickly.
That’s why it pays to keep some boring-looking stocks on your watchlist.
You don’t need to predict exactly when they’ll move.
Just watch how they behave while they’re sitting there.
Are the swings getting tighter?
Does weakness keep getting bought?
Is the stock refusing to give back its previous gains?
Sometimes the stocks doing the least today are the ones worth watching for tomorrow.
That’s why in just a few hours at 3 p.m. Eastern…
Head Trader Ross Givens is going LIVE to break down a time-tested chart pattern built around this exact idea.
It’s been used by multiple U.S. Investing Champions…
And has signaled moves of 163% in seven weeks… 177% in 11 days… and 148% in just two days.
Ross will walk through the setup step-by-step and reveal the name and ticker of a stock forming it right now.
Click here to guarantee your free seat for today’s LIVE session if you haven’t already…
And Ross will see you at 3 p.m. ET.
The Traders Agency Team
P.S. Planning to attend on a mobile device? Make sure you download the presentation apps now so you don’t miss a second of valuable information.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
