Traders,

Traders,

With Wednesday’s failure to pull the S&P 500 above resistance, we’ve now spent 12 days stuck in a narrow but whippy trading range. Worse yet, thanks to a stronger-than-expected jobs report, stocks are gapping lower this morning in a quick reversal of yesterday’s strength.

Until we get a resolution from this range, it’s impossible to have a strong opinion on the next direction of the broad market. Here are 3 tips for active traders while the neutrality persists.

1) Be careful leaning too far into bull or bear trades. If the market breaks in the opposite direction, it could get painful quickly.

2) Focus on individual stocks exhibiting relative strength or weakness. Not everything is mired in the mud like the S&P 500. Go bullish on stocks with relative strength and bearish on those with relative weakness.

3) Be ready to capitalize once the S&P 500 finally does pick a direction, as we could see swift follow-through giving easy profits to those on the right side of the breakout.

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Video Of The Day: Trade Masters – Hot Trading Picks From Tackle Trading

Every Wednesday at 7 PM EST join us on the Trade Masters Show where two Coaches go head-to-head to see who can find the best #tradingsetup.

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Chart of the Day: S&P 500 (SPY)

Of course yesterday’s up day is followed by a down gap. ‘Tis the nature of a garbage market.

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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 the coaches at Tackle Trading can deliver.

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