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Spooky Trading Action On SPY, QQQ. Plus, AAPL Earnings and Powell Reporting

by | Oct 31, 2023

The market is up again following Monday’s rally, but it’s still time to be cautious because we have not yet seen a capitulation.

The market also hasn’t been responding like normal to positive earnings, and we have two ongoing wars. Monday’s volume was also below average, so we could easily reverse course and head lower in a hurry. 

The Federal Open Market Committee meeting begins today, when the Fed will decide what to do next with interest rates. 

Apple also reports earnings after the close Thursday, so these are a couple of reports and data points that should move markets. 

Apple is below its 200-day moving average, and if it falls today, it could bring the market along with it. 

I’ll cover all that and more in this morning’s “Premarket Must Watch” video!

In today’s all-new video briefing, I’ll go over whether or not seasonality is turning in our favor… if bonds will hurt stocks in the next few days… what Apple is expected to do over the next 48 hours… why I’m fearful of tech at this juncture… why the market may be calmer than usual going into tomorrow… whether China and Japan are giving us a tailwind… the strongest and weakest sectors and which stocks I’m liking right now!

P.S. Free Options Trade Coming From My New Dashboard!

I launched my highly anticipated ProTrader Dashboard on Monday, and I’m blown away by the response!

So much so that I’m going live again at 1 p.m. Easter today to show everyone who missed it exactly how this new trading tool can track institutional buying and selling pressure in real time…

I’ve been trading with it since the summer, and it’s part indicator, part scanner. 

If you missed Monday’s world premiere, join me at 1 o’clock today for round 2 — I’ll even have a free trade for everyone who takes the time to check out my ProTrader Dashboard…

You Can’t Afford to Miss This!  

WRITTEN BY<br>Roger Scott

Roger Scott

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