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I discussed a trade idea this morning that I believe has great potential in the current market... But before we dive into that, let's take a look at the markets and what we should expect from the upcoming Consumer and Producer Price Index inflation reports. The S&P 500 has been trading in a relatively tight range, with the possibility of breaking out to new highs. On the other hand, if it fails to hold above key support, we could see a downward move. Wednesday’s premarket CPI report is expected to be a major market mover... This will be one of the last big news bits before the FOMC meeting next week. Market participants are projecting a 0.25% cut, but some believe a 0.5% cut would be more appropriate. It's important to note that a larger-than-expected cut could lead to a surge in market sentiment, similar to what we saw in 2007. However, we should also be prepared for the possibility of disappointment if the cut falls short of expectations. Following the CPI report, we have the PPI report the next day. While this report is unlikely to have a big impact on the market, it's still worth keeping an eye on. Inflationary pressures could potentially trickle into the real markets, especially if we see a spike in the PPI numbers. Now, let's get back to the trade idea I discussed this morning — be sure to join me at 9:15 a.m. ET weekdays for “Morning Monster”! I’ve identified a potential opportunity in a specific stock, based on my analysis of the Daily Chart Setup and other factors. This trade idea aligns with the current market conditions, and has the potential for a substantial gain. However, it's important to note that trading always involves a substantial risk of loss, and this is not a recommendation to buy or sell any financial instruments. Today’s Daily Chart Setup This idea came directly from my Daily Chart Setup that automatically signals potential plays. Keep in mind that this is for informational and educational purposes only. Trade at your own risk. Churchill Downs (CHDN)
How the Daily Chart Setup Works Here’s a more detailed description of how the pattern triggers: 1. The price breaks upward through the orange Market Roadmap Line. 2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 3. Once it touches the line and starts moving back up, that signals an entry. I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years! You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places! Always remember that past performance is not indicative of future results — anything can happen in trading! And remember that it's crucial to have a well-thought-out trading plan and to consult a financial advisor if you need personalized financial advice. Trading can be exciting and potentially profitable, but it's essential to approach it with caution and proper risk management. My weekly show, “30 Minutes of Awesome” is starting NOW! Be sure to join me, and bring your ticker — I’ll analyze it in real. Let’s have some fun! Jeffry Turnmire Jeffry Turnmire Trading Follow along and join the conversation for real-time analysis, trade ideas, market insights and more! Telegram: https://t.me/+6TdDE7-F6GlhMmJh *This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. Your Trading Day Could End at 11 AM ET What do you usually do between 9:35 and 11 a.m. ET? Catch up on emails? Attend a meeting? Maybe grab a coffee? For Chris Pulver, it's become the most important part of his trading day. And it usually just takes 85 minutes... Set up at 9:35 a.m.… Check back in at 11. And when things work out, there's an extra $100 to $150 in his account for a $1,000 starting stake. Sounds simple, right? Here’s the truth… The market has a rhythm, a subtle pattern that shows up day after day. Most miss it because they're too busy predicting where the market will end up by the closing bell. Want to get a link to TradingPub content, trade ideas, real-time market analysis and educational tidbits? We have you covered! Telegram is an entirely free messaging app and getting access is as easy as 1… 2… 3… 1. Download Telegram on your mobile device (Before you can add Telegram to your desktop computer, you must download the application on your phone and create your account: To download to your iPhone, click here. To download to your Android device, click here. After the download is complete, please create an account. NOTE: You can manage your privacy settings by clicking “Settings,” and then “Privacy & Security.” 2. Download Telegram on your desktop: Once you’ve downloaded Telegram onto your mobile device and created your personal account, you can download it onto your desktop computer. To download onto your PC, click here. To download onto your MacOS, click here. 3. Then add our channels by clicking these links!
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