The Nasdaq is down pretty big this morning, which is not random…
Things just aren’t looking great right now when you take a peek under the hood. However, algos are hitting one sector particularly hard as they dump tech stocks.
Momentum is weakening and favoring the bears, and I believe we’re going to head lower with the market likely to give up the ghost next week…
Highlights in this morning’s “Premarket Must Watch” video:
- 🐻 Momentum levels are favoring the bears.
- 💸 The Fed is likely to raise rates again soon as the fight against inflation continues.
- 🏥 One sector I really like right now.
- 📉 The European and Chinese economies are showing signs of weakness.
- 📈 Trupanion and 3M have positive news while financial and energy stocks struggling
P.S. A Storm Is Coming — Prepare Now!
Folks, volatility right now is shockingly low, with nowhere to go but up — especially in a market that’s getting weaker by the day.
I have a strategy that I originally developed for the super volatile futures market…
And then I redesigned it to help traders capture short-term price movements, allowing us to get in and out of stocks quickly.
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Better Than the Price of a Big Mac Meal!