Coach Mark here.

I am entering the week with an attitude of expecting anything in the short-term. The dollar and yields continue their climb as we start the week not providing any relief for multiple asset classes. We have chatter of government shut-downs, higher-for-longer and consumer worries. The macro situation is not exactly a rosy picture of sunshine as we enter the week.

Still, markets are funny. They get particularly funny in the short-term when you get into oversold conditions where bears are shorting at extremely high levels and buying puts faster than teens lined up at a Taylor Swift concert. This sets up situations where you can get the force of gamma working for the bears creating a big down day or on the flip side can get some nasty short-squeeze situations on any given day.

Eventually a support level will get put in that screams buy. Certainly from a short-term tactical standpoint at the very least. Until then I am expecting the unexpected on any given day and have come up with a tactical plan that reduces the volatility for me in the short-term as I await that moment.

Have a fantastic start to your week and check out Macro Monday today as we break it all down on the Halftime Report

---

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

From a technical standpoint we are certainly in a “expect anything” little stretch.  We are extended from the falling daily moving averages which makes us prone for a snap-back rally to retest those but we also lack structural support from moving averages which means bulls have lost some of their best friends. Eventually this plays itself out but can be a little wild until it does.

---

---

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.