Unemployment data came out this morning, and oh boy…

3.3 million Americans applied for unemployment benefits the past week — that number is quadruple the previous record amount that was set in 1982.

This is an incredible reflection of the damage this pandemic is doing to the U.S. economy. Some economists expect the unemployment rate to hit 13%…

In comparison, the jobless rate at the end of the 2008 recession only climbed to 10%.

A lot of traders wondered why markets didn’t rally after the government’s promise of unlimited lending and a major stimulus.

This is why…  

Let’s break it down on the charts.

In today’s video I’m also covering critical levels for the Dow… the outlook for bonds … why the U.S. dollar is weakening… what the record unemployment figure means for the market… and why I expect more downside ahead.

Looking at yesterday’s data will bankrupt you. You might look at the markets when you go to bed and wake up to a completely different story…

Markets are moving too fast, yesterday might as well be a year ago.

That’s why I’ve teamed up with the world’s #1 pre-market trader — Tom Busby — to show you how we’ve cracked an all-new style of trading.

It allows us to spot potential winning trades before most traders even wake up, which in today’s market could make all the difference.

If you’d like to see these trades in action, click on the button below to watch our presentation.

My Top ETF as GameStop Prepares to Report Earnings

My Top ETF as GameStop Prepares to Report Earnings

 The market is little changed following news that the U.S. House passed a debt ceiling bill and sent it to the Senate. The Fiscal Responsibility Act passed with bipartisan support, and is key in raising the debt ceiling and preventing the U.S. from defaulting....

read more
My Top Trades With More Tech Earnings on Deck

My Top Trades With More Tech Earnings on Deck

 Before we get to today’s stock market outlook, I want to let you know that I’m appearing on “Roundtable With Don Yocham” alongside Celeste Lindman and Jeffrey Muller at 11 a.m. ET today, May 31! Join us here: https://prosperitypub.com/roundtable We’ll discuss...

read more
2 Overdone Sectors and an End to the Debt Ceiling Crisis

2 Overdone Sectors and an End to the Debt Ceiling Crisis

 The major indexes rose to start the shortened trading week Tuesday morning on positive news regarding the debt ceiling debate. President Joe Biden and House Speaker Kevin McCarthy appeared to reach a deal over the long Memorial Day weekend on raising the U.S. debt...

read more