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Pullback Setups, Momentum Levels, Gold Breakout, Chips and the 50-Day Line, and Top Stocks!

by | Aug 20, 2024

Stocks are about as flat as can be premarket on the heels of an eighth straight day of gains — for the first time since November 2023.

When you see long winning streaks like that, you generally see a pullback day, so be careful!

Lowes (LOW) reported this morning and there’s not much of a reaction so far with the stock down about 0.2%. The company did report a downward revision, which is not good.  

Target (TGT) reports before the open Wednesday, and this has the ability to really move other retail stocks.  

Crude oil is doing exactly what I’d expect it to right now… absolutely nothing. It’s not hurting us, but it’s not helping, either. This means it’s not time to focus on energy stocks until it makes a more directional move. 

Gold, however, is in play. It’s at an all-time high right now around $2,565 an ounce. 

Everyone is waiting for the FOMC minutes on Wednesday, and Fed Chair Jerome Powell’s comments on Friday, so I wouldn’t expect to see much movement in bonds until then… 

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. Today’s the Day!

In just a few hours, I’m announcing three “stealth stocks” I’ve been drooling over for the past week… And I’m giving the tickers away for free! 

The reason I’m so excited is because I found them through the strategy that’s worked like gangbusters all summer long…

With a 100% hit rate winning streak on 10 tickers! 

Will we keep the streak alive? Well, I can’t predict the future, promise gains or prevent losses… 

But if this summer’s performance is any indication… 

I’m feeling super confident about these three stocks. 

All you have to do is follow the link below at 1 p.m. ET TODAY, Aug. 20!

Just Go Here!

The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 12/16/2022 – 8/14/24 on live signals the win rate is 77%, the average return per trade is 12% (winners and losers) over a 9 day average hold time.

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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