We were seeing a pretty big divergence with blue chips leading while tech was lagging pretty big with major companies like Microsoft (MSFT), Meta Platforms (META) and more set to report after the close.
The Dow was basically flat while the Nasdaq was down 0.7% about an hour before the open, until we got the latest GDP report, which was not good…
The data showed a contraction of 0.3% versus expectations of 0.2% growth — not good! I really wanted to see Personal Consumption Expenditures lower and it was, coming in at 1.8% vs. a prior reading of 4.0%.
This data sent just about everything tumbling, including the long bond (TLT), which went from up 0.5% and looking fantastic to down 0.8% in a flash.
We have another market-moving report at 10 a.m. ET in Personal Income and Outlays, so I wouldn’t put on any positions until after this data.
Crude oil is falling — which is not good at all — while gold is still stuck in its range…
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
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram:https://t.me/+_vmfwkeP8fA5YWQ5
- YouTube:https://www.youtube.com/@Roger-Scott/videos
- Instagram:https://www.instagram.com/thetradingpub/
- Facebook:https://www.facebook.com/TheTradingPubOfficial
- Twitter: https://twitter.com/Rogerscott1970
Important Note: No one from The TradingPub team or Roger Scott Trading will ever message you directly on Telegram.
P.S. ‘Wealth Window Dates’ Show This Stock Could Jump 12% In May Despite Market Chaos
While markets swing wildly any time Trump comments on tariffs or trade, my data mining software has identified specific May “Wealth Window Dates” for one stock with massive potential.
I’m revealing the exact ticker, entry timing and profit potential for my No. 1 May stock pick based on 34 years of historical patterns that have the power to consistently deliver.
