Stocks are up to start the new trading week and it appears mostly random, but we have three big catalysts…
The first thing I look at each morning is premarket movers, and then overnight data — upgrade and downgrades.
And if you see big-cap FANG and/or blue-chip stocks like Microsoft (MSFT), General Motors (GM), Intel (INTC) and others like we have this morning, that’s a nice catalyst for the market.
Those are the fundamentals impacting the market today.
Then I take a step back and look more broadly, and I see that we have a lot of Fed speakers on deck, and important data on deck. We have a GDP revision coming Thursday, which isn’t as impactful as the initial GDP report.
But we also have Personal Income and Outlays on Friday, and that will be the most important data point this week, as well as Consumer Sentiment.
Crude oil is back into our “safety zone,” and if it falls below $69.50, it will be time to short these stocks. Be careful in this market right now because it doesn’t know what it wants to do with itself just yet.
Gold, however, looks fantastic…
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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P.S. The Pieces Are Falling Into Place…
Inflation cooling… check.
Job market slowing… check.
Fed eyeing rate cuts… check and mate.
Sounds like a recipe for smooth sailing, right?
Wrong… DEAD WRONG…
Because when these factors align, we could be heading into the perfect storm…
A storm that’s wreaked havoc three times in the past 30 years.
During the dot-com implosion… the 2008 Financial Crisis… and the COVID meltdown.
Each time, investors saw billions in market cap vanish like a ship lost at sea.
But this time?
You Can Take Steps to Strengthen Your Book
