Plus Strongest and Weakest Stock Trade Now
- What's pulling stocks down in the morning?
- These sectors continue to lead… and why!
- Top stock to buy right now (with option pick!)
- One stock to avoid — and why!
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My pivot number today on the ES (S&P 500 futures) is 3792. Resistance is up at 3845 and support at 3745. If the ES breaks the 3745 support level then this minor selloff overnight starts to get more severe and we'll give back some of the big gains. The first two days of the new month were up, led by gains in Asia and Europe. Overnight the Asia and European sessions were both consistently down. It will be interesting to see how the day unfolds. For crude oil, there is a big announcement today to see if they do cut by a million barrels today. Crude is holding the 86 level as we go to press and we'll be watching closely today. Get today's Pre-Market Planner numbers here. Watch today's 3-minute TBUZ TV video here. ~ TBUZ
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With pullback pressure on the broad markets today, I'm watching price action on U.S. tickers like EMN where there is solid professional accumulation based on a six-month scan. Solid dividend too. Risk only to $69.49 in this obvious value stock. | |
The Reserve Bank of Australia slowed rate hikes. And markets seem to have erroneously taken that as a sign that every central bank will reverse course as well. Some may, but the US Federal Reserve won't — and equity markets are going to be be sorely disappointed. ► For today's pick, we're betting on a reversal of this rally by shorting the S&P. Watch the video for details. | |
Kind words from our best students: "Don, you rock!! Thanks for your help. Because I don't know what I am doing… Lol. You're a life saver!!!" — Deven W., a follower of Don Yocham's The Daily Pick | |
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