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Critical Stocks, Key Levels and Chips, the Fed, Bonds, Market Breadth, and a Diverging Dow

by | Mar 8, 2024

We’re seeing some premarket selling ahead of the final trading day of the week, which is typical after the market makes a new high. 

So expect some consolidation ahead. 

We did get a wrinkle this morning in the form of the latest employment report, which sent stocks higher at 8:30 a.m. ET after unemployment rose to 3.9% versus estimates of 3.7%.

Nonfarm payrolls also were higher than expected, 275,000 versus expectations of 200,000. 

Average hourly earnings also had a slightly smaller than expected increase. 

The bond market, meanwhile, saw a spike in the two-year note, which showed it likes this employment data. 

What does it all mean? I’ll cover all that in this morning’s “Premarket Must Watch” video, including the key levels to watch today and more!

Roger Scott
Roger Scott Trading

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

P.S. 2 Longs, 2 Shorts to Trade Before the Weekend

I’ll be live one last time this week at noon Eastern today, and I’ll have a few treats for those in attendance. 

I have two longs and two shorts that I’ll share, and I’ll also cover how we’ve been able to rack up a 95% win rate on over 125 trades in just a few months in my active day and swing Trading Pit. 

I get emails and messages every day from raving members, many of them telling me how quickly it’s paid for itself. But here’s the deal…

Folks, the annual price of the Trading Pit is going up $500 at midnight tonight — no monkey business!

So if you’ve been on the fence about joining the hundreds of traders already in there, don’t wait any longer! 

Join Me at Noon ET!

WRITTEN BY<br>Roger Scott

Roger Scott

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