Stocks are up big ahead of the open with President Donald Trump set to announce a “comprehensive” trade deal with the U.K. at 10 a.m. ET.
Chip stocks are also moving higher on news that the Trump administration is going to end some export restrictions put in place by the Biden administration that were scheduled to go in place on May 15.
This is good news for chip and tech stocks, and the Nasdaq is up 1.3% while the S&P 500 is up 0.9% and the Dow is up over 300 points about an hour before the open, which is beyond random movement.
I’m also going to be watching Consumer Discretionary (XLY) closely today, as well as more big earnings reports…
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. This Signal’s Been Right 19 Times In A Row — and Just Flashed Again Before Fed Day
A pattern so reliable it defies statistical probability (19 consecutive correct signals) just flashed before tomorrow’s Fed announcement.
Two specific stocks are showing the exact setup that historically surges after this signal appears.