Catch Jeffry at 1 p.m. ET to see how his automatic “trade finder” raked in 115 winning trades in July — and get today’s top trade ideas!
Stocks are relatively flat premarket and the big question right now is…
Is the S&P 500 going to break through its 100-day moving average and eight-day EMA, or is it going to come back down?
If we start coming up, things will get super bullish. If it starts dropping, I think you can guess what that means.
Personally, I’m neutral.
The other big question right now is if we’re going to have a recession or a soft landing. We’ll get more data on that next, so I believe the things will be cautious up until then.
In addition to big data next week, we also have monthly options expiration on Friday (the third Friday every month), which always brings some volatility.
Monday is generally a rotation day, but we have the Producer and Consumer Price Index inflation reports coming Tuesday and Wednesday, respectively. We also have Industrial Production, Retail Sales and Consumer Sentiment.
This is a lot of data that the Fed pays close attention to, and it can definitely move markets…
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. STARTING AT 1 PM ET: Today’s Top Trades!
Jeffry’s kicking off a live event at 1 p.m. ET TODAY, Aug. 9, featuring his automatic “trade finder” that spotted 115 winning trades in the month of July…
He’ll break down exactly how it spotted those 115 winners…
You’ll see the exact process it uses to identify high-probability trades.
Plus, you’ll get today’s automatic alerts for free, and Jeffry’s current read on market conditions after Thursday’s massive rally!
And while we cannot promise future returns or against losses…
This could be the game-changer you’ve been waiting for.
Stated results are from hypothetical options applied to real published trade alerts. From 4/17/24 – 6/19/24 the result was a 77% win rate on 234 trade alerts, an average return of 22.3% per trade (including winners and losers) and average hold time of 3 days. Performance is not indicative of future results. Trade at your own risk and never risk more than you can afford to lose.
