Join Jack Carter and myself LIVE at 10 a.m. ET TODAY — we’ll reveal an incoming seasonality surge on our No. 1 Big Tech stock!
Stocks are up premarket — nothing major but it’s good to see some follow-through after Monday’s bounce.
This is actually preferable to a big gap up on the open, which makes it much harder to find good day trades because gaps are made to be filled.
We’re seeing deflationary action in the oil market. And the fact that crude has broken below its eight-day exponential moving average and right back to its 50-day MA means I’m much more neutral toward energy stocks right now.
Gold is following energy both up and down. And while I’m not ready to throw the gold out with the bath water just yet, I’d be very nervous about this trend and going long.
If gold breaks its current trend line around $2,316, it’s probably going down to its 50-day MA at $2,208. In fact, a lot of people are moving gold to crypto.
Turbulence in the Middle East seems to be winding down, which is an overall positive for the world while helping oil prices come down.
Volatility is also falling back to previous levels…
What I don’t want to see happening is people getting rid of their shorts for longs just yet. I’d rather wait and be more conservative while watching the VIX very carefully.
We’re also in the thick of earnings season, which can make things more volatile in a hurry…
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. Find Out What Jack Carter Discovered
Former Nasdaq market maker Jack Carter has just uncovered evidence suggesting a particular mega-cap tech stock might surge over 8%
So he rang me up to confirm his findings…
And, frankly, it’s mind-blowing!
While we can’t promise specific returns or safeguard against losses…
This is something you have to see for yourself to believe!
Click the link below to access a recording of our private discussion. We’ll also throw in a free option trade if you decide to tag along with us!
But hurry — it will be too late in just a couple of days…
