Stocks are ripping again in the aftermath of the latest Federal Open Market Committee meeting and there’s a lot to talk about this morning…
Fed Chair Jerome Powell was spinning yarns Wednesday in his post-FOMC comments, and he said we need to cut rates to lower deficit spending. If he keeps talking like that, then he’s getting very political.
It’s just posturing at this point, in my opinion, and I think he’s full of it.
Meanwhile, volatility is still low, which makes options cheap to buy. Bonds (TLT) are going lower, which tells me rates will stay higher for longer.
So we are opening very strong, but the question is if we’ll close strong.
We have a couple of big companies reporting earnings today in Nike (NKE), FedEx (FDX) and Lululemon (LULU).
The data tells me that markets are overbought and need to cool off some…
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. Bring Your Favorite Ticker to Today’s Live Session!
I’ll be live one last time this week at noon Eastern to show how my new software isolates “Hotspot Dates.”
And I want you to bring your favorite ticker to the party!
Because my tech has the ability to help isolate the most bullish windows to buy a particular stock, each and every year.
Hence the name “Hotspot Dates”!
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