Coach Mark here.

Is the retracement over or will it take another leg down? Are we on our way back to all-time highs or is this going to turn into something uglier? These are the debates being had by market participants right now and the thoughts on trader’s minds. While speculation runs rampant the market is probably setting up to tell us a story.

Technical analysis is a constant story in the making. Moving averages, other indicators, intraday price action, support and resistance levels…these are all characters in this story. These characters weave a fascinating tale that the adept trader should take time to read. At times the story can seem maddening, full of twists, but then there is a moment in the saga where the plot unfolds and you see what is coming. At those moments traders tend to do very, very well.

My brother Matt will be on the Coaches Show tonight to discuss market retracements and how to read the upcoming story in the market. Amid earnings season, economic data, inflationary readings, and geopolitical happenings this week a story will be told. Let Matt help you know what you should be looking for.

And join us on the Halftime Report today as we break down all of the news and technical stories being told! Have a fantastic Tuesday!

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Chart of the Day: S&P 500 Futures Weekly (/ES)

Like a good suspense thriller, the first rally after a selloff can be full of plot twists. Falling moving averages that act as resistance will need to fail before we get real insight into this “whodunnit.”

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Today’s lineup

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 the Coaches at Tackle Trading can deliver.

Weekend Reports

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

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