Stocks are up premarket in every index but the Russell 2000, which has the most exposure to interest rate fluctuations…
We have a lot of data in the form of Housing Starts and Fed Manufacturing at 8:30 a.m. ET, Industrial Product at 9:15 a.m., and then a total of FIVE Fed speakers today including one right before the market closes at 3:50 p.m.
Jobless claims caused the market to spike last week with a mere 5,000 spike. Today, claims came in at 22K versus 231K previously, and estimates of 220K — nothing burger.
Walmart (WMT) is up over 6% on earnings, which could help propel retailers higher today.
Crude oil is right at its 100- and 200-day moving averages and forming a base. The longer it bases out the better because that tells us it’s fairly priced.
Gold, meanwhile, is at the upper end of its channel and moving higher — I like what I’m seeing here.
Bonds (TLT) are trading above their 200-day moving average, and we’re officially entering a deflationary environment — I personally think bonds will fall back down.
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
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: https://t.me/+_vmfwkeP8fA5YWQ5
- YouTube: https://www.youtube.com/@Roger-Scott/videos
- Instagram: https://www.instagram.com/thetradingpub/
- Facebook: https://www.facebook.com/TheTradingPubOfficial
- Twitter: https://twitter.com/Rogerscott1970
P.S. Get Graham’s Top 3 Stocks That Could Be Attracting Major Cash Infusions
Graham is giving the full rundown at noon Eastern on what he believes are the top 3 stocks poised for massive Wall Street cash infusions any day now.
And once that happens, BABOOM, regular folks can target big upside in as little as 24 hours!
Drawing on last year’s insights from Exxon Mobil, which saw a staggering 77% gain overnight after a significant cash boost just like what he expects again, Graham’s excited about the potential for similar movements.
While the market always carries risks and nothing is ever guaranteed, understanding and being in front of these opportunities is crucial.
Join Graham at noon to discover how anyone can potentially capitalize on these insights.
Just hit that link below to secure your spot at the event and learn more…
