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The market is largely random this morning, which is to be expected ahead of major earnings reports.
Speaking of which, we have Tesla (TSLA), Google parent Alphabet (GOOGL; GOOG) Texas Instruments (TXN) and more after the close. Not only that, but we’ve already had a lot of big companies report this morning before the open, but the real fun begins later today.
Until then, I believe the market will be in wait-and-see mode…
I’ve been talking about downside in energy stocks, and I would be very careful here. Gold, meanwhile, is consolidating. The big question is if it will trade back above current level, or fall back down to support. We just don’t know yet, so I’d wait to get into a long position.
The bond market (TLT) didn’t react well intraday on Monday… I’m fairly neutral on bonds right now, but I believe it could come down some more. I’d be very careful with anything relating to interest rates right now.
Volatility is also falling again…
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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