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Tackle Today – Next stop: 2730 and beneath

August 6, 2019

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Tackle Today: Next stop: 2730 and beneath (Anastasia Dulgier on Unsplash) | Tackle Trading

≈ Boredom is over. ≈

Oh, the winds of change… Those modern 280-characters bombs… The currency wars… OH, LORD, HOW WE MISSED IT!!

The heads of state and the Fed know how to rock the markets. Right in the middle of the earnings season. What a nice timing to throw a party. If the Chinese government has this much power to drive the US equities down, therefore we must infer the US bulls are made out of porcelain. Investors are running for the hills: Gold, Japanese Yen, and Swiss Franc.

Markets started the day bouncing back but the next major support zone sits at ≈ 2730; it’s right around the corner.

We do hope you are already carrying protection and have some cash set aside for moments like this. If not, now it’s time to start planning. Be sure to attend the Traders Lounge so you can discuss the current market conditions with the Coaches.

Tonight, Coaches Tyler Craig and Noah Davidson will host a somewhat contrarian show as part of the new Tackle Trading Playbook: the Bull Call Spread, a limited risk, limited reward Delta bullish debit strategy. Markets want to go up but if the sentiment is bearish, down they go.

If you are not a PRO member yet, sign up for a 15-day free trial HERE, so you can attend the webinar.

Chart of the Day

Next Stop: 2730

Chart of the Day: /ES, S&P 500 E-mini Futures

As of this writing, the S&P is bouncing back. If the general sentiment continues to favor the bears, down we go. Next stop: 2730.

Video of the day

Trading Concept Check: Prior Support Resistance Price Zones

Old support/resistance price zones are excellent technical catalysts for price changes that traders look for to give them an edge when it comes to buying or selling.

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.

The Coaches Show 8:30 PM EST

Join coaches Noah Davidson and Tyler Craig tonight, 8:30pm EST to discuss the Bull Call Spread strategy from the new Tackle Trading Playbook.

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.

Market Recap

The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.

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