The Stock Market is hovering around the even mark an hour before the open.
Of note, Oil is strong while most else is in the red, however just slightly.
To me, that is a neutral bias premarket.
The markets are at a point where they are getting attractive in the short run. We have had a consolidation which I would expect to breakout higher sometime soon.
What is remarkable is that the market has held up very well with the threats of tariffs heating up. Remember when the market reacts positively to negative news that is an indication of a strong market.
And that is what we have here. So until this changes it very hard to predict a top.
Another positive for the markets is the White House has no keyed in on the Fed putting pressure on them not to raise rates. Whether that will work remains to be seen but the impression it makes is positive similar to Biotech getting hit when the President bashes high drug prices.
I will be looking today for some day trades. I still have my basket of Bonds, ETFs and Equities primarily for income rather than capital appreciation.
It’s a conservative portfolio but at 71 that is where I should be. If you’re younger with a good income you can open up and balance your portfolio much differently.
There are some great sites that you can go to for ideas on the appropriate mix based on your situation. If you have an interest send me an email and I will send you sites.
Also, this morning I plan on posting my trades on my private twitter feed @rickjswings.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ’s Handicapping Picks