Last week was an eventful week in a key earnings report out of Nvidia and the Jackson Hole symposium. While we do not have the headline event this week of similar magnitude, what we lack in quality we make up for in quantity.

The main event this week is the unemployment report on Friday but along the way we have several other employment-oriented reports, a GDP 2^nd quarter revision, a core PCE inflationary report and several other economic data points. There are a lot of data releases this week…but it could be a “noise over substance” type of week.

This week is historically a light trading week with significantly lower volume. You could easily see a situation arise where an economic report creates a lot of “noise” as algos play their game and premarket and intraday price action could be exacerbated in this type of environment. It could easily be an environment where we find ourselves with big intraday swings but we end the week about where we started.

This is a big picture technical week. Attempt to filter out the noise and pay attention to key technical levels. We will be breaking down those technical levels on the Halftime Report every day this week.

Happy trading and have a fantastic start to your week!

---

Chart of the Day: S&P 500 (/ES)

The S&P 500 is in an interest spot to enter the week. Falling weekly moving averages potentially acting as resistance and a rising 20-weekly moving average potentially acting as support. The 20-weekly also aligns with the intraday support levels that have formed over the last week. This is a battle that could take a minute to play out and the longer we are in this formation, the more explosive the potential move could be once we leave.

---

---

Today’s lineup

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.

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.

Weekend Reports

Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.

---

Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

---

Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.