Stocks are up a bit across the board as we await the latest FOMC rate decision at 2 p.m. ET and the big earnings report of the day, Advanced Micro Devices (AMD) after the close.
I expect trading will be very subdued heading into 2 o’clock, though we are looking bullish before the open. The bond market (TLT) is flat and we don’t want to break yesterday’s low of $86.64.
Crude oil is backing off the eight-day exponential moving average, and we get the latest EIA Petroleum Status Report at 10:30 a.m. ET.
In addition to AMD for earnings today, I’m watching Novo Nordisk (NVO), Arm Holdings (ARM), Uber (UBER), DoorDash (DASH) and Carvana (CVNA).
As for the FOMC, I expect the Fed to say it’s not taking any action right now — no rate cuts — and Fed Chair Jerome Powell may stick it to Trump over tariffs. Here’s the main thing we need to watch out for…
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.
