10 Minute Read

Tackle Today: Near the all-time high

August 13, 2020

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Can the S&P reach a milestone?

Traders,

Yesterday, on our YouTube Channel, we held a 7+ hour event, where different coaches from Tackle Trading came in to teach you a variety of trading mechanics and concepts.  It was a day packed full of education, and one we had a lot of fun putting out there.

Today, the market is flirting with the all-time high and it is very possible it will hit it today or tomorrow on the S&P 500.  That is on the backs of the weekly unemployment report that showed 936 thousand new claims filed, while 15.5 million people are in the system of ‘continuing claims. 

Stock prices have decoupled from fundamentals, that is no question in the short-term.  The charts are the most reliable thing we have to look at, and that’s good news for most traders, since reading a chart is a great way to develop trading plans and take the noise out of the daily news.

As we move into mid-August, and the back end of earnings season, it’s a good time to simply ‘trade what you see’ and run your systems that you’ve developed through your education.  It’s also a great time to put in some ‘butt in seat’ time and take a trading class, attend a daily webinar and improve your skills as a trader.

Challenge of the day: Consider starting, or finishing, one of the courses at Tackle Trading: https://tackletrading.com/courses/

As I watched the coaches deliver education yesterday to our community, I was reminded that each one of them started out as a student as did I.  They got to the point where they can teach others through their hard work, dedication to themselves and commitment to education.

Keep getting better, one day at a time.

#TeamTackle


Chart of the Day

S&P 500 Price Chart

The market is within reach of it is all time high on the S&P 500.  Will it reach it this week?  With two trading days left, it’s not far fetched.


Video of the day

Tackle Trading Special Event Recording

If you missed yesterday’s marathon event, you can review any of the teaching segments in the video above.


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.


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