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Chip Stocks are Back! Health Care, Consumer Staples and Solar Stocks, and My Morning Hit List

by | Feb 6, 2024

Join us at 1 p.m. ET TODAY for our 100-win celebration in the Trading Pit — get in on the active trading action!

The major indices are down premarket, but it’s not a big surprise after Monday, which was a bit wobbly. 

The stock market derives most of its directional bias from the bond market (TLT), which is now below its 200-day moving average. 

If you happen to see a small bounce in TLT today, don’t go crazy with stocks because the longer-term trend is still down. But if we were going to see a full-on breakdown in bonds, we would have gotten it already.

The S&P 500 (SPY) is still above its eight-day moving average. Typically, what we see in times like this is some consolidation before a more directional move. 

The Nasdaq 100 (QQQ) is also consolidating and buyers are still in control. The Dow (DIA), meanwhile, is starting to lag after faking us out like it was going to take the lead. 

There are three sectors I’m laser-focused on today…

I’ll cover all that 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!

P.S. Gunning for Our 100th Win in the Pit!

Ever dream of racking up 97 trade wins in just a few months, with a mere handful of losses?

Guess what? We’ve done exactly that!

Thanks to a groundbreaking trading tool I’ve developed, which hones in on where the big institutions are laying their bets in real time, I’ve managed to hit the jackpot alongside nearly 500 members of my Trading Pit.

And now, it’s your turn to get in on the action.

I’m gearing up for our 100th win in less than three months, and I want you right there with us.

While I can’t promise future wins or against losses, I’m rolling out the red carpet for our most significant event yet: A celebration at 1 p.m. ET today, Feb. 6, marking the countdown to our 100th win.

But that’s not all — I’m also unveiling my top three predictions for 2024 and my No. 1 stock pick, all on the house!

Save Your Seat Here!

*Stated results are from hypothetical options applied to real published trades from 10/30/23 – 2/2/23. The result was a 95.1% win rate, an average return of 13.7% including winners and losers and average hold time of less than 24 hours. Performance is not indicative of future results. Trade at your own risk and never risk more than you can afford to lose.

WRITTEN BY<br>Roger Scott

Roger Scott

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