9 Minute Read

Tackle Today: Getting Back on the Horse

January 13, 2020

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Tackle Today - Getting Back on the Horse - Photo by Dean Hinnant on Unsplash

≈ Easier than it sounds. ≈

Morning Trader!

“Getting back on the horse” is an idiom referring to you returning to or resuming an activity that you had previously failed at or had difficulty with. Because we are human, we constantly will come up short on occasion. Because we are human, we also have the capability of overcoming the obstacles that previously caused us to come short and eventually find success.

So how are those goals for 2020 coming? Have they even been set? Have you looked at them since you set them?

However your 2020 has started out, every morning is a chance to start your life anew. Every morning is a chance to tackle the obstacles that have held you back from the life you desire and the person you truly want to be.

It’s Monday morning January 13th, 2020. It sounds like a fine day to get back riding. Let us know if we can be of help in any way.

Chart of the Day

S&P 500 (SPY)

S&P 500 (SPY)

The is a weekly candlestick chart of the SPY. If you live in a bubble and just follow charts for your trading decisions, you wouldn’t have thought anything even happened last week except a continuation of the short-term uptrend that has existed following the breakout a couple of months ago. No potential war. No geopolitical conflict. Just nice bullish conditions. Earnings season is coming up which can add to or change sentiment, but this chart is an example of the power of charting and a reminder to let technical analysis be a key factor in our decision making process.

Video of the day

Trading Concept Check: Wyckoff Price Cycle in an Uptrend

Core 1-2-3 trading pattern is the key to increasing the Probability of Profit. Trend, patterns and setups like the 1-2-3 pattern setup can improve the probability of profit for directional trades.

Today’s line up

Traders Lounge 11 PM 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 Matt and Tim can deliver.

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