Coach Mark here.

Well, it certainly has not been a boring week. A strong rally to start the week only to give back a chunk of the weekly gains this morning. We have had economic data miss (PMIs and GDP this morning), strong earnings reactions out of certain companies (TXN, TSLA) and others that the market did not exactly celebrate (META). It is certainly not boring out there.

In all the action we have maintained a simple message in our programming. We do not have a constructive pattern on the S&P 500 and until that occurs a volatility playbook is appropriate. For me the greatest asset this week has been flexibility as in my Cash Flow Vikings trading lab, I have used rallies to reduce bullish exposure and the selloffs to reduce bearish exposure in equities. Essentially, I am cleaning up my portfolio and treating cash as a position in the short-term until we get a catalyst or pattern that is of a higher quality (bullish or bearish).

The week still has some excitement left. Microsoft and Alphabet report after the bell and we have the most important economic report of the week with the CORE PCE price index. There will be a lot to discuss in the Tackle Trading Newsletter that we release tomorrow. That newsletter is worth the price of admission at Tackle Trading and has world-class analysis you do not want to miss.

Have a fantastic Thursday!

Chart of the Day: S&P 500 (SPY)

A lot of noise, but not much has changed from a pattern perspective. Eventually the market will tip its hand but until then flexibility is a very important asset.

Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only the coaches at Tackle Trading can deliver.

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