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Big Upside Bounce or More Downside? Plus, GDP, Industrials, Retail Sector and NKE Updates

by | Dec 21, 2023

The markets are up this morning after Wednesday’s sharp sell-off, but the action is largely random…

Believe it or not, yesterday’s pullback was a healthy thing for a market that’s moved an incredible amount the past couple of months. 

I know a lot of folks are worried about the sell-off being the beginning of something bigger, but I just don’t see it that way. 

We got a big datapoint this morning with the latest gross domestic product report, which showed growth of 4.9% in the third quarter versus estimates of 5.2%.  

We have Nike earnings coming up today after the close, and the stock looks like it’s ready to break out with higher lows. 

I’d love to see Nike break above the $129 level before going long in a position, or break below the $109 level to go short.

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 key data and levels to watch today… if bonds are ready for a breakdown… why Wednesday’s trading action will be faded… the top stocks to keep eye on right now… why I like consumer stocks at this juncture… if the global economy is giving us any tailwind… and an update from the Fed!

P.S. I’m Throwing Down the Gauntlet…

Do you consider yourself a top-tier trader ready for a real test?

Well, you’re in for a treat because I’m on a quest, and I need 19 trading aces to join my ranks. 

I can’t spill all the beans just yet, but this is about the groundbreaking projects I’m set to unveil next year… And trust me, if you’ve got the skills, you’re going to want in on this!

Are you going to be among the elite 19 I’m looking for?

Meet me at noon Eastern today…

And Let’s Make Trading History Together!

Roger Scott
Roger Scott Trading

Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!

WRITTEN BY<br>Roger Scott

Roger Scott

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