Stocks are on the move higher premarket, erasing everything we lost in Wednesday’s volatility.
And volatility is the name of the game this week, double its recent average.
Federal Reserve Chair Jerome Powell all but ruled out further rate hikes during his post-FOMC minutes drop comments Wednesday, which sent the market sharply higher…
Before it came all the way back down during the last hour of trading. I believe the sell-off was because of Advanced Micro Devices (AMD) earnings, which took some wind of the tech sector’s sails.
One thing he didn’t mention was his timeline for rate cuts, which tells me we aren’t getting a cut any time soon. Until he starts saying rates aren’t going down this year, or we’re hiking, the market should be stable.
Here’s the bottom line…
I believe the market is still stable because there are a lot of buyers out there who are eager to get long.
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!
- 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
P.S. Ready to Take Your Trading to the Next Level?
While the markets have been all over the place, members of my top trading strategies have been cruising.
Here’s a quick rundown…
We’ve had a near-96% hit rate in my Trading Pit across 164 trades…
A success rate above 90% on 11 Gap to Green trades…
And a rock-solid 74% win rate on 66 Stealth Surges trades.
Remember, there are no guarantees in trading, but I’m pumped about the potential this market has for some big moves!
To celebrate our success and share what’s next, I held a special meeting with Matt this week
Click on that link below to see everything we covered, including our strategies for thriving in volatile markets, a preview of some exciting plans for the rest of the year, and a “golden announcement” I want 19 traders to be part of.
Don’t Miss Out — Just Go Here!
