Tackle Today: Stimulus deal is passed
December 22, 2020
≈ Markets trade mixed ≈
Traders,
Both the House and Senate passed a $900 million dollar stimulus package on Monday. The bill includes money allocated for direct payments of $600 (with income limitations), $300 per week of supplemental unemployment, $284 billion for the Payroll Protection Program, funding for vaccine distribution and $15 billion for U.S. airlines if they bring back furloughed employees.
It is a historic size – the 2nd largest in history – only trailing the CARES Act that was passed last year for over $2 Trillion. It is bigger than the American Recovery and Reinvestment Act of 2009 which came in at $831 Billion in 2009 in response to the financial crisis and Great Recession of 2008.
It is not the only story catching the attention of trader’s and investors, though. The newly identified Covid-19 strain out of the UK has the market trading mixed as we wait to see if the bulls can get the momentum back up and running again and attempt a breakout.
As a reminder, the stock market will close early on Thursday, and will not be open Friday due to the Christmas holiday. It will be interesting to watch price action this week. Join us live for our Lounge, Halftime Report or Coaches Show to learn from the coaches on how we’re approaching this market.
#TeamTackle
Chart of the Day
AAPL Daily Chart
AAPL is up over +3.8% in trading Tuesday on reports the company is targeting 20204 to produce a vehicle with its breakthrough battery technology.
Video of the Day
Trading Concept Check: Targeting Techniques
In the S.T.E.P. Trading System, a trader uses two profit targets. In this video tutorial you can watch and learn how Coach Noah sets those targets on an example Bullish Retracement pattern.
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.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.
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.
Financial freedom is a journey
The Tackle Today series is brought to you by Tackle Trading.
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.
# Sign up now for a 15-DAY FREE TRIAL #
Legal Disclaimer
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.
