Everyone wants to know right now if markets, and tech in particular, are going to continue selling off…
Chip stocks have been selling off because of geopolitical tensions with China, not because of bad earnings. Taiwan Semiconductor (TSM) reported after the close Wednesday, and things are looking up with TSM rising over 4.3% overnight and settling in, up about 3.5% a half-hour before the open Thursday.
The Dow is down slightly and the S&P 500 and Nasdaq are both up with Netflix (NFLX) reporting after the close today, which could provide some more juice.
Everything is pointing to a rate cut coming as soon as September, but I think everyone is going to be very disappointed when that doesn’t happen.
I don’t think they’re even close to cutting just yet just by looking at all of the Federal Reserve data. In fact, the CME Group FedWatch tool says odds of a cut in September are 93.5%, and I think it’s closer to 15% to 20%…
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. The Easiest Way to Spot What Could Be Potential Winners
I want to tell you about something that’s been working incredibly well in the markets lately.
It’s a pattern I’ve been using for years now…
I call it the “World’s Most Predictable Pattern.”
Since 2020, I’ve used this pattern to target over 100 trades, and get this… it’s won 72% of the time.
That’s not backtesting, that’s real, published trades!
And the best part is you don’t need to be glued to your screen all day to use it.
Just check for the pattern after the market closes. And once you see it, you know you might have what could be a solid trade setup for the next morning.
It’s that simple.
I’ve put together a complete breakdown of how this pattern works… the indicator, the rules, everything you need to start using it in your own trading.
I’ll show you exactly how to spot this pattern, how to confirm it’s valid, and how to trade it to up your trading game.
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 2/25/20 through 7/15/24, the average win rate on published trade alerts is 72%. The average weighted rate of return on options trades was 7.82% over a 13-day average hold time.
