The markets cooled off a bit this morning after a week at or near all-time highs, and with the fourth quarter of 2024 beginning Tuesday.
We may see some choppiness to kick things off and my confidence is pretty low in technology and particularly chip stocks. There looks to be some juice left in Dow stocks.
I would like to see us come back up, but I didn’t love what we saw in tech on Friday. We also have a lot of Federal Reserve speakers on deck this week, and I’m curious to see how that impacts the market this week.
We have jobs and ISM Manufacturing data coming this week but otherwise no major catalysts.
Crude oil looks like it’s ready to short in the weakest of the weak energy stocks. Gold has been cooling off a bit, and it’s right back at its eight-day exponential moving average.
I think we’ll see lower volume ahead of the election as well…
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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P.S. LIVE AT 1 PM ET TODAY: My Weekly ‘Win-Both-Ways Trade’ Hitlist!
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That’s right, I’m firing up the “Win-Both-Ways Trade” scanner right in front of you.
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