The major indices are up yet again premarket, even on the heels of poor earnings that sent Tesla tumbling over 8%.
However, I do believe it’s overdone and will fill the gap back higher unless the market is really weak today.
That doesn’t mean I’m bullish on Tesla right now. In fact, I’m bearish until it comes back above its 200-day moving average.
The Nasdaq is expected to open higher, boosted by Netflix’s 9.82% earnings increase.
I’ll also discuss the bond market’s impact on stock market trends, with the anticipation of a potential shift to a deflationary market.
Petroleum status report and potential impact on energy stocks emphasized.
My biggest concern is the sustainability of the bull run without participation of small caps in the market.
But there’s a big stinker in the room… And until we break out in the Russell 2000 (IWM), the broad market won’t be able to have a sustainable bull run.
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. Hedge Funds Are Pouring Into This Vaccine-Maker
I have some breaking data that suggests Moderna could be on the cusp of a significant upswing — I’m talking about a potential 15% bounce early next month.
In fact, 14 multi-million dollar hedge funds recently dumped over $1 billion into the stock!
Is this uptick a sign of growing interest in this high-profile vaccine-maker, or could there be something even more substantial at play?
Don’t let this opportunity slip by. Click the link below now and discover what could be a game-changer before you miss out!
