Tackle Today: That’s a Bullish Setup | Tackle Trading: The #1 rated trading education platform

Tackle Today: That’s a Bullish Setup

SPY 9

Can Nivida Deliver?

Coach Mark here.

Traders are always attempting to figure out what comes next. That is our job, right? We analyze the macro backdrop and technical setups and take trades based on the probability of what likely is to occur. We adjust as new macro and technical information comes in and rinse and repeat this formula throughout the trading week.

During this process we also visualize good technical setups that might develop in the coming days. This is sort of a “wouldn’t it be nice if?” thought process. For example, after the market moved up after the CPI report many coaches at Tackle Trading shared our “wouldn’t it be nice if” thoughts. We stated that it would be fantastic for the bulls if price would take several days off upward movement, trade sideways and form a high-base setup. This would allow short-term moving averages to catch up into Nvidia’s earnings which could serve as a catalyst to break the market out of a quality technical pattern.

Well guess what? That is exactly how the last several trading sessions have played out so far. It is a good short-term bullish setup occurring in the market right now. It is now up to Nvidia to provide the spark to take another leg higher. Nvidia reports after-the-bell on Wednesday.

Have a fantastic Tuesday and catch my brother Matt and I on the Halftime Report today!


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

SPY 10

A pretty technical setup by any trader’s standard, if Nvidia can provide a spark it would allow for a breakout and moving averages to be close by to act as support on any pullback.



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