9 Minute Read

Tackle Today: Stocks test a breakout

October 8, 2020

By | No Comments

How are you trading it?

Traders,

It has been a mostly bullish week for stocks as prices have moved higher and threaten a breakout across most major indexes today.  Key levels on the S&P 500 at 3400 and 3420 have been surpassed as the Index now trades higher than both resistance zones.  A close above 3420 would be a confirmed breakout on the S&P 500 and would warrant an upgrade to the bullish bias in stocks.

Yesterday, on the Halftime Report, the Coaches discussed how they are trading in this current environment.  If you are seeing this bullishness with caution, or just want a high probability trading strategy, you might choose to use Short Puts, Naked Puts, Bull Puts or some version of credit spread.  If you are a directional, short term trader, you might be trading long stock, long call or some version of debit spread.

How are you trading the market?  Understanding the difference between Theta strategies and Delta strategies will give you an advantage as you make your trades.  Take the time to learn a new technique and start practicing it so that you can have another tool in your toolbox when opportunities arise.

#TeamTackle


Chart of the Day

SPY Daily Chart

The S&P 500 up in early trading Thursday as the market is breaking out of short-term resistance. 


Video of the day

How to find great trade ideas

Watch the recording of last night’s webinar where Coach Tyler teaches how he finds great trade ideas.  #trading #stocks #tradingwebinar #learntotrade #stockmarket #TeamTackle


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.


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

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.

Leave a Reply

Chart Modal

Tackle Trading