Following a rotation last week, both the Nasdaq and the Dow are sinking premarket along with the S&P 500…
The number of stocks making a 90-day breakout is 142, and that number was 495 on Friday. I said this is unsustainable on Friday, and now we’re heading in the opposite direction in a big way.
I’ve been using these stats for about a decade now, so this shouldn’t come as a surprise that things are cooling off this morning.
Volatility is also spiking and it’s time for a shakeout in the market.
Also something to keep in mind is it’s a fragmented week with the market closed on Good Friday ahead of Easter…
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. Momentum Is Building in This AI Name, and It’s Not NVDA or SMCI
As you probably already know, AI tickers have been crushing it since the beginning of this year.
Nvidia is up nearly 90%, and SMCI… a whopping 245%!
Graham Lindman thinks there’s still a LOT of gas in the tank for AI stocks to keep rolling.
Now, don’t go jumping in headfirst to buy the stocks I just mentioned.
Although, you can… if you want.
But Graham believes there’s a “new” AI stock that’s poised for a massive new momentum cycle…
As a result, he’s perfecting a specific trading plan for targeting this ticker as soon as this week…
And at 1 p.m. Eastern on Wednesday, I’m joining him so we can show it to you LIVE!
If you’d like to get the name of the ticker along with how Graham is targeting it…
