≈ Markets trade mixed ≈
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.
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.
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