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June 17, 2024

Stocks and the VIX Rise Ahead of a Week of Fedspeak
By Brandon Chapman

Another day, another all-time high…

Traders seem to have largely shrugged off the FOMC statements of last week - might as well have been 100 years ago. That press conference didn’t exactly deliver the goods for the bulls. 

Then again, this week features a number of speeches from Federal Reserve members; maybe the bulls are holding out hope there.

Equities and oil both surged today… but bonds, the VIX, and gold forgot to participate. Cyclicals and tech led stocks higher and, in theory, the bulls should be dancing in the streets, but the undercurrent of rising volatility and higher yields doesn’t exactly scream “conviction!” 

TheoTrade Daily Chatroom Schedule for Tuesday, June 18, 2024
9:20 AM to 10:30 AM: I’ll be getting us ready for the opening bell
10:30 AM to 11:30 AM: Professor Jeff Bierman shows you… The Way
11:30 AM to 12:30 PM: Blake targets more earnings trades
12:30 PM to 1:15 PM: Gianni Di Poce is watching stocks and a lot more
1:15 PM to 2:00 PM: Brandon tracks big money flow
2:00 PM to 3:00 PM: Tony Rago finds targets in NQ charts
3:00 PM to 4:00 PM: Corey Rosenbloom will make range and trend plays

The Algos Have a Gun to Traders’ Heads
537 stocks hit all-time highs today, but according to the Professor, this isn’t a feel-good story. He said, “This is some scary %@^t if you’re short; we’re in a positive algorithmic feedback look. That’s locked-in space forcing buying - no shorting allowed. No volatility. No downticks. You have two choices: buy… or buy. It’s rigged.”

You’ve really got to get Bierman’s Man vs Machines research. Click here. It’s totally free and you’ll get one update every week right to your inbox.

Get Ready - The Hindenburg Omen Is Out There
This infamous indicator usually precedes a big drop in stocks, and according to Blake Young, it’s shaping up. Tomorrow’s paid session will be all about it.

This Grand Slam-Winning Pro Can Teach Us a Lot About Trading
Tennis legend Roger Federer gave the commencement address at Dartmouth earlier this week… and it was dynamite. 

I want to share part of his speech with you because I think it has some important lessons that can make us all better investors. When it comes to being great at anything, be it tennis or trading, the importance of the mental component can’t be overstated. There’s a big difference between simply going through the motions and actively trading “in the zone.” 

The last thing you want to be is a trader that responds to every headline and price swing in the market. So, what you need to ask yourself is this: Do you want to be right? Or do you want to make money? Because in markets, there’s a huge difference. Before I explain, let’s hear right from Federer…

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade