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GDP, Bonds, Tech and Retail Sector Analysis, a Biotech Breakout, Earnings Review and My Hitlist!

by | Feb 28, 2024

Stocks are down Wednesday and it’s more than just random premarket action — keep an eye on the bond market (TLT), which is still in a descending triangle.

We got an important piece of Federal Reserve data in the form of fourth-quarter U.S. gross domestic product, which came in a shade under expectations at 3.2% versus estimates of 3.3% and a previous reading of 3.3%.

Volatility has held steady near the lows, but what’s interesting is the lows have in fact been getting higher, so don’t be surprised to see it start rising. 

We have some big earnings reports from smaller companies like Snow (SNOW), Baidu (BIDU), Salesforce CRM), TJX Companies (TJX) and more. 

Keep an eye on forward-looking statements from these companies. If they’re bad, it’s bad for the economy. So Retail (XRT) is the sector to watch for the rest of this week.  

While the market has been chopping sideways the past four days, XRT has been going straight up, which tells us there’s a lot of relative strength in this sector.

Then next week, we’ll see midcaps begin reporting. 

I’ll cover all that and more in this morning’s “Premarket Must Watch” video!

Roger Scott
Roger Scott Trading

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

P.S. You Have to See These ‘Cheap’ Options

I’ve exposed a “pricing mismatch” phenomenon within the options market! 

This anomaly has been quietly generating double-, sometimes even triple-digits from stock movements as slight as 1-2%.

It may sound counterintuitive, but for a stock to significantly impact its option prices, it doesn’t need to undergo a massive rally or dip.

Sound far-fetched?

I was met with some skepticism, too, even from my publisher — that was, of course, until I presented my compelling evidence.

So, before you make up your mind, hear me out…

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WRITTEN BY<br>Roger Scott

Roger Scott

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