Markets were down before the Producer’s Price Index inflation report sent things shooting higher…
Core PPI excluding more volatile food and energy prices came in at 1.8% year over year versus expectations of 2.0% and a previous reading of 2.0%.
The Federal Reserve still has a lot of work to do, and I don’t believe we’ll see a rate cut in March, which I’ve said a number of times.
Now, aside from bank earnings, we need to watch the bond market (TLT) today. If TLT starts breaking down, it’s going to be a BIG problem for us — higher rates.
For those of you who thought we were on the brink of a nasty bear market… blue-chip stocks were on a tear, notching a record high.
The Nasdaq 100 (QQQ) posted a 1 ½-week high on the heels of a big spike in Netflix.
As for earnings, the season is underway with big banks on deck!
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss the PPI report… momentum for financial stocks… whether or not bonds are ready to break the 200-day line… why I’m nervous about the Tech sector and overall market… my morning hit list of 14 stocks to buy and sell now!
Roger Scott Trading
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: https://t.me/+FlOoWSAseoFjNDUx
- YouTube: https://www.youtube.com/@Roger-Scott/videos
- Instagram: https://www.instagram.com/thetradingpub/
- Facebook: https://www.facebook.com/TheTradingPubOfficial
P.S. It’s Time to Take Your Trading to the Next Level
Hungry for that elusive insider advantage flaunted by Wall Street pros?
Fed up with repeating the same mistakes, over and over again?
It’s high time you explored my ProTrader Dashboard – the game-changer you need in the new year!
Imagine nearly three decades of my trading wisdom, transformed into over 3,000 lines of sharp, efficient code. Just integrate it into Thinkorswim or TradingView, and you could witness a remarkable shift in your trading.
I’m talking about pinpoint price action clarity, robust relative strength indicators, and rational trading strategies devoid of emotional noise and useless information — all designed for your benefit.
Ditch those flashy but ineffective indicators and focus on what really drives daily trading success.
It’s right here and easier than ever to access!