Tackle Today: 2 day sell-off in stocks
September 4, 2020
≈ Heading into a 3 day weekend ≈
Market’s are selling off for the second day in a row Friday, as traders are eyeing the closing bell and the start of a 3-day weekend. The question everyone is asking ‘is this the start of something bigger or simply a technical correction after a tremendous rally?’
Only time will tell, but as of now, we are in the middle of a 2 day sell-off that has reached near 10% on the Nasdaq 100. Many traders will approach this as an opportunity to build a watch list of stocks they have been wanting to pullback in price for some time. Other’s might hedge going into the weekend and re-assess on Tuesday when stock market is open back up.
Volatility is increasing, in real and implied terms, and that creates opportunities as well.
We have a busy day planned, so that you can join in the conversation with other trader’s and our coaches. Join us live for one or all the following events today: Trader’s Lounge, Halftime Report, Mind of a Trader at the Closing Bell, and the Tackle 25 MMG. The schedule and links are below, and as always you can check the schedule on our events page: https://tackletrading.com/events/
Remember, when prices are moving fast, it’s that much more important to have a trading plan, trading rules and the discipline to execute them.
Chart of the Day
QQQ Intraday Chart
In this week’s Option Theory Blog, Coach Tyler talks about how he analyzes an intraday chart after a big sell-off day like Thursday. By going to the Intraday chart, you can start to map out entry triggers on stocks you are interested in playing.
Video of the day
How to perform multiple time frame analysis on a swing trade
In this video, Coach Noah teaches his process of performing multiple time frame analysis when reading a chart for a swing trade.
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.
Tackle 25 MMG 8:30 PM EST
Join Coach Tyler for this month’s Tackle 25 Mastermind group.
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 Matt and Tim can deliver.
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One Reply to “Tackle Today: 2 day sell-off in stocks”
Thanks Tim! So glad to finally see a pullback. I’ve been waiting all summer long for this, fighting back the FOMO 😉
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