The market’s opening up strong ahead of upcoming reports Tuesday, and then the big one of the week is Gross Domestic Product on Thursday.
We have Durable Goods and Consumer Confidence reports coming at 10 a.m. ET. I expect trading action will be subdued ahead of GDP, and then the market is closed for Good Friday.
The bond market (TLT) is also still in a falling wedge and while it’s risen a bit, I believe it’s going to dip back down. Whether we break below the lower end of support is entirely on the Federal Reserve.
The market Monday was largely random, but Atlanta Fed President Raphael Bostic said Monday he expects just one interest rate cut this year.
I believe the Fed will cut rates in November or December, and that jives with what he said about one cut this year — and Chair Jerome Powell has been saying the same thing.
For some reason, the market doesn’t want to listen to the Fed people are telling us — and this isn’t good.
There are a couple of stocks I like in this market…
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 Stock
You’ve seen the AI stock mania this year, right? Nvidia’s shot up almost 95%, and SMCI has skyrocketed by an incredible 275%! According to Graham, we’re nowhere near the end of the road for this AI stock rally.
Now, I’m not saying you should rush out and load up on Nvidia or SMCI.
But here’s the scoop: Graham’s got his eye on a “new” AI player that’s gearing up for what could be a monumental momentum swing. He’s been fine-tuning a strategy specifically for this stock, aiming to strike as soon as this week.
So we’re teaming up to bring all this straight to you. Join us at 1 p.m. Eastern on Wednesday for the big reveal!
Curious about which stock we’re talking about and how Graham’s planning to play it? Just hit up the link below, and we’ll spill all the details on Wednesday!
