8 Minute Read

Tackle Today: Stocks Break Higher

January 9, 2023

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«The trading range has ended»


After spending 13 days stuck in a narrow trading range, the stalemate has finally ended. And it’s bulls who won the contest. Thanks to a jobs report revealing slowing wage inflation, stocks soared on Friday. The S&P 500, Russell 2000, Nasdaq, EAFE, and Emerging Markets joined the bullish revelry. But it wasn’t just stocks. Commodities also got in on the action, with gold, silver, platinum, and copper leaping higher.

Meanwhile, bond yields and U.S. Dollar got torpedoed, echoing the risk-on signal across the intermarket landscape.

The bullish vibes were felt in our Friday Scouting Report meeting. It was effortless to find bull ideas. Bears were virtually nonexistent.

This doesn’t mean stocks have to go straight up from here. It does mean the short-term stalemate has been broken, and bulls deserve the benefit of the doubt.

Video of the Day: Frank’s Charts: Hot Potential Swing Trading Picks

Watch this clip with Coaches Frank and Matt where they share a few charts and discuss potential Swing Trading Picks

Chart of the Day: Emerging Markets

Foreign stocks have gone from laggard to leader. EEM is now above its 200-day moving average for the first time since July 2021.

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.

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.

Coaching MasterMind Group 8:30 PM EST

In these MasterMind Group sessions, our coaching students are joined by coaches at Tackle Trading for an advanced topic.

Weekend Reports

Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.

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