Hey Trader,
Hello out there in Golden Setups land…
It's Tony Rago here, trading today's tape for all its worth. Volatility is creeping up today, which could bring plenty of profitable setups our way.
There are two people "in play" in this market right now. One is Fed Chairman Jerome Powell. He's on his second day in front of Congress, testifying about the economy and monetary policy. Of course, CPI came in hotter than expected today - a big volatility catalyst - so it's likely Powell's going to stonewall in the face of Trump's calls to slash interest rates.
That brings me to the other, less predictable force working on the markets right now: Trump himself. The "Trump Effect," I call it.
Going back to 2017, when a Tweet about Air Force One sent Boeing much lower, the markets have paid attention to the president's social media presence, and Trump 2.0 is no exception.
If anything, market response is even more volatile now, with "headline risk" as high as it's ever been. No need to freak out over it, though. Just stick to discipline and, as the "Trump Effect" generates $620 "Golden Setups," move in and out according to our rules. Get the day done!
I'll be in touch.
Tony Rago
TheoTRADE
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