9 Minute Read

Tackle Today: Will this bounce hold?

September 9, 2020

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Stocks are in the green


Stocks are up in early Wednesday trading as the market tries to form a support zone after the 3 day sell-off.  The Nasdaq 100 is up over 2% after dropping nearly 11% over the last 3 sessions.  Whenever an index drops 10% from it is highs, it is labeled a ‘correction’.  This 3 day ‘correction’ on the Nasdaq was one of the fastest in history – which serves as a reminder of the volatile nature of this market.

How do you approach a day like today?  That is the question every trader is asking as some stocks are confirming for new swing trading entry points while others have developed a deeper retracement.  Deeper retracements can change the nature of the chart and technical analysis. 

Many traders will watch for support to form today through the intraday charts and see if price will confirm tomorrow.  Whatever you are doing with your approach, the recent action is a reminder that volatility can be a difficult thing to deal with, but it is exactly what a trader wants to happen to create new opportunities.

Prices going up and down are a normal part of price action.  As we always say, ‘price action is king’.  Trade what you see and let the opportunities come to you.


Chart of the Day

NKE Daily Chart

Nike is bouncing today up 2% in early trading.  The stock was a candidate on this week’s Options Report.  Review the report here: https://tackletrading.com/options-report-sep-5th-2020/

Video of the day

Trading Playbook: Core Trading Patterns

Coach Noah teaches how to identify core trading patterns in this tutorial.

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.

Coaches Show Replay

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.

YouTube Special – Selling Premium in High Implied Volatility Environments

Join us for a special webinar with Coach Tyler at 7 pm EST on Selling Premium in this market.

Bear Market Survival Guide MMG 8:30 pm EST

Join our monthly mastermind on how to trade the Cash Flow Condors System.

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

Financial freedom is a journey

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