The biggest of big-cap stocks are done reporting earnings, and just about everything is up to kick off a new trading week.
This is a positive note for day trading because there’s no divergence between the Dow and Nasdaq. Meanwhile, the latest Producer and Consumer Price Index reports are coming at 8:30 a.m. ET on Tuesday and Wednesday, respectively.
We also have retail sales at the same time on Wednesday. These are big, market-moving reports that are likely to cause some upheaval.
The dollar is in a descending channel while crude oil looks to be building a base, and there’s very strong support for the energy market at these levels. Gold is turning higher, now above its eight-day exponential moving average.
So I’m getting more bullish on gold and energy, especially if the dollar continues its downswing.
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. Discover Wall Street’s Secretive Bets
Later today at 1 p.m. ET, I’m joining the great Jack Carter to show everyone how he tracks the secretive moves made by Wall Street whales in REAL TIME.
Jack has a new stock teed up he believes Wall Street is secretly betting on. Here’s a hint…
It’s a defense stock — and tickers like this tend to do well amid global tensions.
While we can never make promises about potential returns, Jack will let everyone in on exactly why he believes this stock has big days, weeks and months ahead.
Join Us LIVE at 1 p.m. ET TODAY!
