Stocks are down a bit this morning with several catalysts in play, including a rare downgrade of Apple (AAPL) and a slate of key Fed-related data.
The ADP Employment Report came out early and sent futures lower after showing private sector hiring rose by just 37,000 — the weakest in two years and well below the consensus of 110,000. ISM Services hit at 10 a.m. ET, and the Fed’s Beige Book is due at 2 p.m.
Rare earth mining stocks could be active, and weak earnings from CrowdStrike (CRWD) may drag on tech sentiment.
Meanwhile, the bond market (TLT) is surging this morning. The Bitcoin ETF (GBTC) is still holding near its eight-day EMA — I’d wait for a breakout above the $86 area before taking action.
Crude oil continues to chop sideways with no clear catalyst. Watch the $63.90 level, but with heavy resistance overhead, a reversal lower remains likely.
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. Weekly Cash Flow From Tesla?!
If you’ve attended some of my LIVE VIP Trade Room sessions…
Then you likely know we’ve successfully traded Tesla stock 12 different times over the past year!
Obviously, with results like that, I wasn’t actively looking for more…
But when Jack showed me a peek of how he’s been targeting weekly cash flow from Tesla whether the company rallies…
Tanks hard or even remains flat…
I know it’s something you have to see.
That’s exactly why I’m bringing him to share the details of this interesting TSLA setup LIVE at 1PM ET today.
Now I cannot promise future returns or against losses but Jack tells me a new opportunity could be setting up for us to take advantage of — as soon as tomorrow.
Anyway, don’t let me spill all the details here…
Just join us at 1 p.m. ET…
