Hey friend,
Welcome back.
We got some small business sentiment data this morning. It showed a slight dip from last month – but nothing drastic.
On Thursday, we’ll get the Producer price data.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower to end last week and have generally been moving lower today. The short-term direction for the Dow moved into downward territory.
Check This Out
The Fed meets next week, and it’s going to be a critical meeting for your money. Head Trader Ross Givens explains why – and what to do to prepare – in his latest video here.
The Daily Nugget
The market doesn’t pay extra for complexity.
A lot of traders assume a strategy gets better as they add more to it.
Another indicator.
Another news feed.
Another opinion.
Another reason to second-guess the trade.
Before long, a setup that was simple to recognize turns into a checklist with 15 moving parts.
That can feel sophisticated.
But the market doesn’t care how much work you put into the decision.
If a simple setup has a long track record of working, your job is to recognize it, know what would invalidate it, and trade it consistently.
Adding more information doesn’t always improve the decision.
Sometimes it just gives you more chances to talk yourself out of a perfectly good trade.
That becomes especially important when the market gets choppy.
There will always be another headline telling you why stocks should go up or down.
A clear, repeatable setup gives you something much more concrete to work with.
The Traders Agency Team
