Markets are down to start the new trading week, but it’s mostly random and not all that unusual after what we saw Friday…
I expected Friday to be a quiet day but lo and behold we crossed above the 100-day moving after average as stocks surged.
Now the question is if it will hold or unravel… But for now, with the S&P 500 (SPY) trading above its 100-day MA, I’m bullish.
We’re above all of the major moving averages but we need to be very careful in the Nasdaq 100 (QQQ), and the Dow (DIA) is right at its 100.
Making things even more interesting is retail earnings coming this week, which makes up a massive part of the economy, including Home Depot, Cisco, Target, Walmart and more!
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss whether or not stocks will collapse or continue breaking out… which sector we need to pay close attention to this week… if Tuesday’s CPI inflation report will ruin the market… if retail earnings will support the economy…
P.S. You Have to See This Premarket Technique!
It’s not often I learn something new about trading…
But this week, I had the pleasure of hearing about a premarket trading strategy from arguably the world’s No. 1 premarket expert…
It’s based around a candlestick pattern that flashes around 7 a.m. Eastern each trading day…
A pattern that often precedes the market’s most aggressive daily movers…
Now, I understand that sounds a bit wacky…
But this same candlestick pattern tipped this expert off to the dotcom crash and even the great financial crisis…
And this week, he promised to teach a handful of us how to trade this 7 a.m. pattern each week…
The event doesn’t cost a thing…