The Personal Consumption Expenditures Price Index data – the Fed’s closely-watched inflation gauge – came in right on point with expectations.
This was generally positive for the markets – with the Dow being the biggest winner.
So, as the trading week comes to a close, let’s see how the markets have been moving.
The Daily Direction
Note: Most indexes closed higher yesterday, although the Nasdaq pulled back a tiny bit. No changes in any index directions.
The Daily Nugget
The most efficient way to trade is to learn from other’s mistakes.
Life is too short to only learn from our own mistakes.
There are many mistakes you can make in trading.
If you were to make all of them yourself, you would probably be bankrupt before you could learn from them.
Sir Isaac Newton said “If I have seen further, it is by standing on the shoulders of giants.”
That’s what you should do too.
Traders like Ross Givens – and all the other legends out there…
They’ve gone and made all the mistakes – so you don’t have to.
All you have to do is learn what to do – and what not to do – from them.
One big mistake Ross discovered is following the “wrong crowd” – listening to the small-time retail traders, the man on the street, or the biased news media.
What you should do instead is follow those who can really move the market – the “big money” institutional investors.
Because when you can do that, you can potentially profit from their money as they drive select stocks up.
Ross built a whole strategy around doing exactly this…
The Traders Agency Team
Even Bill Gates himself has said that generative AI has “peaked” and that the next version of ChatGPT won’t be much better than the current version.
So where will the next wave of AI innovation – and profits – come from?