Markets are down some on the heels of poor earnings from Target (TGT), which fell over 8% premarket.
Target’s an influential stock when it comes to earnings. Here’s what I think…
TGT will bottom out in the $135 to $145 area and consolidate before filling the gap higher again, so that’s something to watch moving forward!
I wouldn’t make big bets today ahead of the FOMC minutes at 2 p.m. ET, and we have Nvidia (NVDA) earnings after the close. I expect the Fed to say we’ve had surprise inflation, and hint at changing the timeline for rate cuts.
I’m hoping that the bond market (TLT) will keep moving higher, but I think it will begin to fall and put more pressure on the Fed.
Gold is making a lower high right now, but that doesn’t mean the rally’s over yet…
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
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: https://t.me/+_vmfwkeP8fA5YWQ5
- YouTube: https://www.youtube.com/@Roger-Scott/videos
- Instagram: https://www.instagram.com/thetradingpub/
- Facebook: https://www.facebook.com/TheTradingPubOfficial
- Twitter: https://twitter.com/Rogerscott1970
P.S. Want to start picking your trades with the utmost confidence?
Then boy do I have the live session for you! No, this isn’t about my ProTrader Dashboard that tracks institutional money flow in real times…
Though, it is part of my process.
And it’s not about the hitlists I create each day or anything like that…
This is about something else you’ve been missing entirely — think of it as the final confirmation for picking day and swing trades that’s helped me reach a 95% success rate.
It could also help a trader supplement or even replace their work-related income…
