Tackle Today: Stocks Slip. Again. | Tackle Trading: The #1 rated trading education platform

Tackle Today: Stocks Slip. Again.

Tackle Today Stocks Slip

«Wither Support?»

Traders,

Bears are on the move, and the selloff is intensifying this morning. Weakness is most acute in the Nasdaq, with prices cracking the 20-day moving average. Thus far, the S&P 500 and Russell 2000 are holding theirs. It’s the first 20-day test since the uptrend began early last month, and spectators are watching closely to see if support forms here.

Remember, moving averages are potential support only. By definition, support is an upward move in price. Thus, we need buyers to emerge and prices to rise before it’s confirmed that the floor is indeed in. If we don’t hold here, bulls will take comfort knowing other potential support zones remain at lower levels.

But the cleanest uptrends hold the 20-day. So if the market wants to maintain its strong status, we need a bounce pronto.

And for those looking to play it, we featured dozens of tempting targets in our Scouting Reports over the weekend. I have my eye on SPY, IWM, DIS, XBI, CWH, HD.


🛑 Webinar Tonight! › Tackle Trading 101 – How to use the MACD indicator for Swing Trading with Coach Matt Justice at 8:30 PM EST on YouTube

In this webinar, Coach Matt will teach you how to properly use the Moving Average Convergence Divergence Indicator (MACD) as secondary confirmation for both bullish and bearish swing trades.

Here’s what you are going to learn:

✅ What is MACD
✅ Using MACD for Bullish confirmation
✅ Using MACD for Bearish confirmation
✅ What is MACD divergence


Video of the Day: Should I trade the stock or the options?

In this video, Coach Noah Davidson discusses how to determine if it is better to buy the stock or to buy the long call and how to make that determination.


Chart of the Day: S&P 500 ($SPY)

Chart of the Day: S&P 500 ($SPY)

A failure here will make the SPY chart messier than it needs to be. Make a stand, bulls. You have 6.5 hours.


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 Matt and Tim can deliver.

S.T.E.P. MasterMind Group 7:00 PM EST

In these MasterMind Groups, you will learn directly from our experienced coaches exactly how to apply the S.T.E.P. Swing Trading System discipline in the current market conditions.

Weekend Reports

Watch the Stock, Options, Commodity, and Forex Reports to help you prepare for the week.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

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.


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