Markets are up as we head into the final trading day of what’s been a big week in what is historically the worst month of the year for stocks.
I was concerned that Adobe (ADBE) earnings would put a damper on things after it fell about 8%, but it only accounts for about 1.64% of the Nasdaq 100 (QQQ).
Adobe can, however, have a big impact on big stocks like Microsoft (MSFT) and Inuit (INTU), so we could see a little weakness in software companies. Otherwise, tech looks pretty good this morning ahead of the open, all things considered.
The Nasdaq is now above its 50-day average, so the big question is whether or not it will now fall back, or continue to gain steam.
We won’t see much impact from today’s economic reports, which include Consumer Sentiment at 10 a.m. ET.
I’ve been bullish on gold the past several days, and it’s breaking out to $2,600 an ounce — I still like the top stocks in this sector.
Crude oil, however, is an entirely different story…
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. LIVE at NOON ET TODAY: 3 Stocks to Combat the September Swoo… and More!
I’m opening up the live room at noon ET TODAY, Sept. 13, to reveal THREE stocks on my watchlist to help you battle September’s usual swoon in the markets.
These stocks are currently glued to this predictable pink indicator line…
Which means they could be poised to cross above it for an entry at any moment.
Once that happens, we’ll have the ability to target trades outperforming the market during the worst month of the year.
Obviously, I cannot promise future results or shield against losses but…
You can see the names of those tickers…
