Hey friend,
We had some home price data this morning, as well as more consumer confidence numbers.
While home prices still showed year-over-year growth, said growth came in below expectations.
As for consumer confidence, it actually surprised to the upside.
The Fed also meets today for its latest monetary policy meeting – with the decision announced tomorrow.
The Daily Direction
Note: Most indexes closed slightly higher yesterday but opened largely lower this morning. Still, all index directions remain upward.
Check This Out
The charts are pointing Head Trader Ross Givens toward two high-impact trades right now. Click here to check out what they are.
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.
The Traders Agency Team
