We have a really BIG week ahead of us for the market with Retail Sales and the latest FOMC meeting, when we’ll find out what the Federal Reserve is doing with interest rates at 2 p.m. ET on Wednesday.
In my opinion, the market could be best off without a cut at all, or at most a 0.25% cut. And if they don’t cut, the market could pull back in a big way. I don’t think the market is ready for 0.50%, and inflation could rear its ugly head again if they go too far.
The market is mixed and the Nasdaq is down quite a bit, more than random, while the Dow is on the march higher. So we’re seeing some downside pressure in tech and upside in blue chips.
Gold is now over $2,600 an ounce and starting to look overbought unless the Fed does something crazy like lowering a half-point, which would boost those sinking tech stocks.
If rates get that 0.25% cut or no cut at all, that should continue helping gold move higher.
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. Will Powell’s Rate Cut Trigger a Crash?
Jerome Powell’s upcoming Fed announcement on Wednesday could be the trigger event for an epic market crash!
You see…
The Fed Chair’s anticipated rate cut might signal the Fed’s acknowledgement of economic weakness… provoking a market collapse.
Meanwhile, investors and traders expecting a cut could start selling BIG TIME if the cut size disappoints… or if it confirms recession fears… leading to significant volatility.
That’s why I’m hosting a special Flash Crash Briefing with fellow trader Jeffry Turnmire at 1 p.m. ET on Tuesday, Sept. 17.
We’re going to discuss:
- My top two stock picks to look at before the announcement so traders can be positioned for what could be a “lightning move” in the markets.
- Jeffry’s No. 1 hedge trade: He puts REAL money into so you can see how a pro trader with actual skin in the game plays the Fed’s announcement.
- How to protect your portfolio no matter which way the market turns.
Of course, we can never guarantee gains or prevent losses…
But we’re both expecting a palpable reaction to the Fed’s announcement
And you’ll get all our picks FREE just for attending…
