Markets are firm ahead of the open with Retail Earnings on deck for the day.
We also have a number of important earnings reports on deck for today. Check out this document for implied volatility.
This is a heavy week for financials, which I’m bullish on, with some other stocks sprinkled in.
Here are the expectations for Retail Sales, which isn’t a top-tier report but it’s still very important because it makes up a huge chunk of the economy.
The consensus range is -0.6% to 0.3% month over month, -0.5% to 0.2% MOM excluding vehicles, and -0.1% to 0.4% MOM excluding vehicles and gas.
The numbers came in at 0.0%, 0.4% and 0.8%, respectively, so stronger than expectations, which is good to see.
The bond market (TLT) is rising, and the major indices are all up, and even the equal-weight indexes like S&P 500 (RSP) and Nasdaq 100 (QQEW) are strong.
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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