We have a lot of Fed speakers on deck Monday, but since we’re in a deflationary period in the market, what they say is unlikely to be a major catalyst.
The biggest data points this week will be Existing Home Sales and the Beige Book on Wednesday, and then Durable Goods and Consumer Sentiment on Friday morning.
Earnings are also moving full-steam ahead — Tuesday is a huge day, and we have Tesla (TSLA) on Wednesday.
I’m still skeptical about crude oil at this point and there’s a lot of resistance. I think we’ll continue to cool off and I’d be selling the weakest stocks in this sector.
Gold, however, is still bullish but I wouldn’t buy at this point. I’d continue holding whatever gold you have as we rise above the moving average.
I think the bond market is going to continue holding its current range, which is not helping the stock market at all right now…
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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