The Nasdaq is up a little Thursday morning, but the broad market is super choppy and fragmented right now, which leads to a low-probability trading environment…
And that means we have to be careful!
We have a couple of important reports this morning in the form of jobless claims at 8:30 a.m. ET, and the Pending Home Sales Index at 10 a.m. ET. And when we have a low-volume environment combined with important data the Federal Reserve watches, that data can have a much larger impact on the market than it normally would.
Small and mid caps are surging higher right now, which generally means the market believes interest rates are going to come down.
But as I’ve been saying for weeks now, I think this is a mistake…
My prognosis is we won’t see a rate cut until May, and maybe even July because they’re still waiting to see what impact the higher rates are having on the economy.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. Start 2024 on the Right Foot
As we transition into the new year, we’re surrounded by a sea of questions…
Is the market poised for a smooth landing, or could rate cuts catapult us to new peaks? Will inflation return with a vengeance?
If you’re feeling on edge, you’re not alone.
So here’s what we’re going to do about it…
As we step into 2024, I want you to be more than just prepared. I want you equipped with supreme confidence, the best tools and a rock-solid strategy.
So I’m rolling out Turning Point 2024 — a special event at noon Eastern today designed to send you into the new year on a high note.
I’ll lay out my critical market predictions, the sectors to keep an eye on and, of course, my top stock pick for 2024!
Don’t let this opportunity slip by to start the new year off right…
