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ON DECK FOR TODAY’S VIP TRADE ROOM: Monday-Friday: noon ET Back to Basics: critical trendline lessons, if volatility levels are finally moving lower or if it’s just temporary, how volatility impacts trading decisions and why you need wider risk parameters, and fast-moving stocks! JOIN US HERE! Trump’s Tech Tariff Exemptions Just Moved the Market, Watch These Key Levels The market is strong to kick off the new week and I really like what I’m seeing after President Donald Trump granted tariff exemptions to cellphones, semiconductors, computers and other tech imports. The question now is how high will we come back before settling back down because there’s still a huge amount of uncertainty? The market still has not capitulated yet, though, I believe we’ve made a low for the time being. So I like what I’m seeing so far, but I’m fearful that we will come back up to resistance and fall right back down. If we can get above the $574.47 level in the S&P 500 (SPY), then we’re still in a bear market. Only 22% of stocks are trading above their 200-day moving averages, so we have a long way to go. That’s why I wouldn’t get super bullish just yet because we’re not out of the danger zone. For now, $550 is the number we want to trade above for SPY, above $468 for the Nasdaq 100 (QQQ), above $422 for the Dow (DIA), and above $49 for the Magnificent Seven ETF (MAGS). LIVE NOW: Get Roger Scott's Top Predictions for the Rest of Q2 He's set to share his predictions on Trump’s tariffs, interest rates, volatility levels, Oil, Gold, Bitcoin and an S&P 500 price target you can’t afford to miss! 🎥 LIVE TRADE ROOM ACCESS 🎥 Join me and dozens of traders each day inside my LIVE VIP Trade Room! Each day, we analyze the markets together, build relationships and, more importantly… go over market education and new trade ideas! With the VIP Trade Room, you’ll have the opportunity to multiply your trading knowledge and confidence as quickly as possible. I’ll take the time to answer all of your trading questions, so fire away! Make sure to join us LIVE each day! SCHEDULE:
JOIN US HERE: http://rogerscott.com/viproom CUSTOMER STORY OF THE DAY Hi Roger, I’m learning great things from you/your process about day trading and swing trading on a small day trade IRA I have. The Pit telegram teaches me something with every comment you make. My ultimate dream would be to spend full time Pit trading in retirement and live off this smaller account. — David Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. |
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