I wasn’t comfortable at all with the market Wednesday, and things are opening up soft and I’ve been expecting things to start consolidating.
The question now is if we’re going to make new highs, or if the real selling will begin…
Energy prices have fallen to support and are starting to bounce, BUT the highs are getting lower and lower, which limits upside without a major catalyst.
Tesla (TSLA) has been in a similar situation for a while now: lower highs, flatter bottoms and a descending triangle.
The Federal reserve, meanwhile, keeps talking about keeping rates steady, and not the cuts the market was hoping for. The bond market is sending a pretty clear signal, and volatility is falling…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. Ready for My Shocking Year-End S&P 500 Projection?
Is the S&P 500 going to close at an all-time high by the end of the year, or is it going to sink after another crazy election?
I have a shocking prediction you won’t want to miss, and I’m giving it during another event at noon ET today!
I’ll also reveal how I plan to leverage my advanced trading software to take advantage of what’s coming, and show everyone how they can do the same.
If you’ve missed me so far this week, you can’t afford to miss this session!
