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NVDA, Critical Levels, Bond Breakdown, Energy Breakout, Tech Stocks to Watch and Morning Hitlist!

by | Mar 13, 2024

Stocks are mixed premarket, with the Dow up while the S&P 500 and Nasdaq are down, which isn’t much of a surprise. 

The market tends to need a breather after a good day of gains. Meanwhile, we have the Producer Price Index inflation report and Retail Sales coming at 8:30 a.m. ET on Thursday, two big reports. 

The PPI number we’ll look at is excluding food and energy prices year over year. Tuesday’s Consumer Price Index number was in range and the market rallied. 

But this datapoint basically told us that rates will remain higher for longer because inflation isn’t coming down fast enough. 

The bond market (TLT) is still in a descending triangle and below its 200-day moving average, and I believe it’s going to continue to fall. 

I may even look at a trade to short it after Thursday’s PPI report to make sure it doesn’t spike right after the data. 

I’ll cover all that and more in this morning’s “Premarket Must Watch” video!

Roger Scott
Roger Scott Trading

Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!

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WRITTEN BY<br>Roger Scott

Roger Scott

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