Get my controversial Q2 S&P 500 forecast LIVE at 1 p.m. ET today!
Stocks are down pretty big heading into the new week after falling below and then closing above the 200-day moving average in the S&P 500 on Friday.
The fact that we closed above it on Friday is not such a big deal yet for today because we can come up from here.
Treasury yields are fairly steady this morning and bonds are rising, which is good.
For big reports this week, we have the latest Consumer and Producer Price Index reports at 8:30 a.m. ET on Wednesday and Thursday, and Consumer Sentiment on Friday.
The U.S. dollar continues its descent and if it continues to fall, we’ll be in a recession fast. Crude oil isn’t really doing much, and gold is right at its eight-day exponential moving average.
Bitcoin is also down big this morning, and all of this together tells me that money is flowing out of U.S. markets, not in. Meanwhile, volatility is also up this morning, and that’s not good at all…
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. Roger Scott’s Controversial Q2 S&P 500 Forecast Goes Live Today
Roger Scott is revealing his controversial S&P 500 forecast that contradicts what most analysts are telling you about Q2.
The same institutional tracking method that’s delivered a 94.1% success rate across 300+ winning trades has uncovered major Q2 opportunities for the quarter ahead that most investors are missing.
