Stocks are mixed but rising this morning with volume rising as we get further away from the holiday, and I wouldn’t be surprised to see the Dow rise from these levels of support.
The S&P 500, meanwhile, is getting closer to its 50-day moving average, and the key levels to watch are $519 and $523.
The Nasdaq 100 (QQQ) is also at a key level, and it’s either going to bounce or fill the gap lower
Stocks got some juice at 8:30 a.m. from the latest Personal Income and Outlays report, which came in line with expectations — though, we have made any progress.
https://x.com/DeItaone/status/1796520024150102244
We also got a couple of bad earnings reports late Thursday after both Dell (DELL) and Marvell (MRVL) took a dive.
People have asked if the market will be impacted by what’s happened to Donald Trump with his felony convictions, but I don’t see that impacting the markets at all.
We typically start seeing an impact in regard to who’s going to win after the first debate on June 27.
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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