First, a quick lesson…
When markets are random like they are right now — and they’re really, really random right now — it’s very easy to manipulate futures because there’s just no volume.
So things can get out of whack in a hurry, and this is one of the biggest reasons why I don’t put much credibility in premarket and after hours futures trading.
That said, the market’s pretty flat this morning, and we got the latest ADP Employment Report, which showed private payrolls grew by just 150,000 in June, less than expected.
This report impacts the bond market and potentially the stock market. But this report has been off for a while, it seems to me, and the big Employment Situation report coming Friday is really the one to watch…
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. It’s Finally Time to Reveal My No. 1 Seasonality Stock
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