The stock market is surging to new highs and I know a lot of people are making money and are very bullish right now — and that’s great.
But following a run day like we saw Wednesday, where the market just runs higher all day, there’s a 75-80% chance the market is going to open higher the next day. BUT, there’s only a 20-25% chance it will close higher.
So keep that in mind while you’re trading today!
And if you don’t believe me, check out the book “Street Smarts: High Probability Short-Term Trading Strategies” by one of the best futures traders in the world.
Now, that doesn’t mean we won’t go straight up today, but the chances are very, very high that we’ll come back down. So give the market 30 minutes at least before trading.
We also have a ton of earnings today, along with the latest FOMC interest rate decision, with the Fed expected to cut rates, likely by 0.5%.
But I want to see what he says about the long bond (TLT) — which is not helping the economy.
And if the solution is to lower rates, well then why didn’t that help last time we lowered rates?
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
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: https://t.me/+_vmfwkeP8fA5YWQ5
- YouTube: https://www.youtube.com/@Roger-Scott/videos
- Instagram: https://www.instagram.com/thetradingpub/
- Facebook: https://www.facebook.com/TheTradingPubOfficial
- Twitter: https://twitter.com/Rogerscott1970
P.S. Are You Tired of Guessing if Stocks Will Go Up or Down?
Are you tired of always being on the WRONG side of the market direction?
The Win-Both-Ways Trade is a strategy that could help anyone target individual gains as big as 136%… 178%… and even 188% in just a few days…
Naturally, there were smaller wins and those that didn’t work out… And of course I’m unable to guarantee returns or prevent losses.
But I’ve got something even more exciting up my sleeve…
Now, thanks to election week volatility…
I’m going to share a special Win-Both-Ways ELECTION trade that looks like it’s setting up for a BIG move!
Without needing to guess if the stock is going to go up… or down!
So if you’re fed up with the coin-flip approach to trading stocks…
And you want a better, more clear-cut way that eliminates the guesswork of directional trading…
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. The trades expressed are from historical data in order to demonstrate the potential of the new system.
