We’ve had some pretty big overnight moves of late, but not into Thursday…
We’re in a very interesting position right now because the market is overbought and needs to cool off.
The long bond (TLT) is about to break below its 200-day moving average, which will push stocks lower because it will tell us the Federal Reserve is unlikely to lower rates as soon as March — watch this level closely.
We got the latest Fed minutes late Wednesday afternoon, when the governors all but confirmed we won’t see a rate cut in March.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss Small caps and major support levels… AAPL stock and today’s downgrade… S&P 500 key downside levels… QQQ and whether the market is ready for a bounce…Fed data and bond markets dump to the 200 day line and much, much more!
Roger Scott
Roger Scott Trading
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P.S. Ready to Start 2024 With Your Best Foot Forward?
A lot of traders are grappling with uncertainty as we enter 2024, and the market has been shaky at best…
Will we see a gentle market descent — a soft landing this year? Or can rate cuts drive us to new highs? Is inflation ready to make a comeback?
How are you feeling about what 2024 might bring? Anxious? Uncertain?
Here’s my pledge to you: I want you to step into 2024 not just ready, but brimming with confidence, armed with top-notch tools, and a solid plan in hand.
That’s why I’m hosting Turning Point 2024 at 1 p.m. ET TODAY, Jan. 4 — a special event to cap off the year.
Join me as I unveil my key projections, most shocking predictions, the top sectors to watch and my top stock pick for 2024.
Don’t miss this chance to get ahead! Click the link below and let’s make 2024 a year of informed, strategic trading triumphs!
