It's here! Enjoy this week's FogCutter...

September 3, 2024 Dear , Welcome to the FogCutter, a weekly treasure wire from Traders Edge Network. Each Monday we come into port, drop anchor and ready the sails! The FogCutter aims to guide you through today's perplexing market action and noise. Check out our view from the Crow's Nest, the quick-glance "Treasure Hunting Climate" and other direct and relevant bulletins for this week.. Chart your course for the coming week with this edition of the FogCutter! Here’s what we got on deck for you today: 💣 Fed's Inflation Gauge Matches Wall Street Expectations 🏢 💣 CrowdStrike Exec to Testify on Faulty Software Update 🖥 💣 Video: What is Options Trading? (Options Basics For Beginners) 📈 Markets At A Glance🔎 As of September 3, 2024, 10:15 AM MST Treasure Hunting Climate 📈 Hey everyone! We start this shortened week with red across the board. The bears have complete control today as the Nasdaq leads the selling, down 2.5% (440 points) on the day. The S&P is also off 1.5% to start the week. Let's try to break down where we are at... The last couple weeks we've discussed on this newsletter how the markets had covered a lot of ground from the August 5th lows. We shared the sentiment that the indices, in general, had felt overextended to the upside. We had cleared some bullish levels, but the market covered so much ground so quickly we still were being a bit cautious. The markets mainly took a pause the last two weeks and we wondered if that was the market "catching its breath" or if it needed more of a pullback from these levels. The S&P 500 is currently sitting at a support level of 5,560, and if we see that fail, we could see the markets head into more of that "pullback" mode. Today/tomorrow should give us more information on if that support level fails or we reconfirm that support. Overall, we are proceeding with caution this week. If we do see the markets pullback here it could set up nicely for some buying opportunities in the next few weeks. Hope this one was helpful. See you next week! View From The Crow's Nest 👀 Fed's Inflation Gauge Matches Wall Street Expectations 🏢 The core PCE index, excluding food and energy, rose 0.2% in July, matching Wall Street's expectations and June's reading. This report is the first since Fed Chair Powell indicated a likely rate cut next month, stating confidence that inflation is moving toward the 2% target. [See Full Article]() CrowdStrike Exec to Testify on Faulty Software Update 🖥 CrowdStrike's Adam Meyers will testify before a U.S. House subcommittee on Sept. 24 about a faulty software update that caused a global IT outage on July 19, disrupting 8.5 million Windows devices, flight operations, and multiple industries worldwide. [See Full Article]( Mumsy's Meme Of The Week 😂 WOW Insider Receive Preston's Live Trades and More! Gain exclusive benefits as a WOW Insider, including access to LIVE Friday morning webinars, 31+ training videos on Preston's option strategies, a member forum for Q&A, and updated trade journals. [Find Out More]( Free Resource Learn How To Do It Yourself Head to the TEAM HUB for more options training. Learn the basics of options, how to setup an account, and place your first Money Press trade through the Onramp. [Go To T.E.A.M. Hub]( Economic Calendar 🌎 Earnings Calendar 💰 Video of the Week 📹 Are you curious about options trading and looking to understand the basics? In this video, we'll dive into what options trading is and break down the fundamentals of options trading in a simple, easy-to-understand way—perfect for beginners! [Watch Now](=) I hope you enjoyed this edition of "The Fogcutter". You can expect this in your inbox every Monday moving forward. Have a great week! - Preston & Crew PS> If you're ever in town, make some time to swing by the Land Office to say Hello.. and we'll show you around! [Unsubscribe]( Traders Edge Network 8180 South 700 East Suite 210 Sandy, Utah 84070 United States (801) 733-4190