Tackle Today: Stocks Break Higher
January 9, 2023
«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.
Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.