8 Minute Read

Tackle Today: Fish in a Barrel

November 17, 2022

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«The pullback is here.»

Traders,

Overbought stocks have suddenly become less so. The S&P 500 is down for the second session in a row and now testing the rising 9 EMA. The post-CPI stock rally left many traders behind, and they were left to beg for a pullback to let them in.

The market gods have listened and are granting their request.

With so many stocks making higher pivot highs in the wake of the better-than-expected CPI report, this pullback is creating bull retracement patterns across the land. Here’s a sampling of them: EEM, FCX, DOW, AMD, AMGN, BAC, BRK/B, C, CZR, DD, FDX, INTC, MGM, PENN.

Compile your list, and watch closely. All we need is a bullish reversal bar or two and some confirmation to get the party started.


Video Of The Day: Jedi Options – Bull Put Spread on $AMD

In today’s Jedi Options, Coach Tyler explains a Bull Put Spread on #AMD stock bull retracement.


Chart of the Day: Bull Retracement on $PENN

Chart of the Day: Bull Retracement on $PENN

This is what a quality bull retracement pattern looks like.


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 Matt and Tim can deliver.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

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