loader image

Powell’s Testimony, Chip Stocks, Large Caps, NASDAQ 100, Bonds and Fast-Moving Stocks!

by | Jul 9, 2024

Stocks are up nicely premarket and semiconductors are rallying again…

If you’re trading the long bond (TLT), it’s forming a head-and-shoulders pattern, and the level to watch is $94.70. 

I’ve mentioned that I was worried that crude oil’s (XLE) breakout hasn’t been transferring to energy stocks, and XLE is now breaking lower again. 

When it comes to gold (GLD), there’s not much to talk about… It’s pretty much doing the same thing with a head-and-shoulders pattern, which usually means it’s going to revert lower. 

If rates come down in September, this could be the current peak for gold prices. 

Volatility is also down, and I wouldn’t be surprised if it’s almost time to start looking at VIX options once we get a pullback in the S&P 500…

The equal-weight S&P 500 (RSP) is going sideways while the SPY has been steadily pushing higher, so there’s a big divergence between them. And at some point, they’re going to start looking more alike… 

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!

P.S. Access the Same Tool as Billionaire Ken Griffin and Improve Your Trading!

Ever feel like the market’s rigged against you? 

Turns out… it kind of is.

There’s this guy… Ken Griffin, big shot CEO of Citadel Securities.

He’s got his fingers in one out of every three trades made in the market. Yes, you read that right.

Which means 35% of YOUR trades — and he’s hoping you crash and burn.

But here’s where it gets interesting…

I stumbled onto something… it’s a tool…. THE tool Ken and his Citadel crew have been using to stack the deck.

So I flipped the script and now use it for myself.

The results? 

A 95.81% win rate on over 150 trades.

Now, I’m pulling back the curtain. Showing my readers how to turn the tables and start placing trades alongside guys like Ken.

And while we cannot promise future returns or against losses…

Don’t just take my words for it, come Monday at 1 pm ET, I’ll be showing you how it all works.

See You at 1 O’clock

The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 10/30/2023 to 05/16/2024 on closed trade signals, the average win rate is 95.91%, and the average return per position (winners and losers) is 13.45% with an average hold time of less than 24 hours on the options. 

 

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

What to read next

Have any questions? Contact Our Customer Service Team

Share via
Copy link