Senior Strategist Roger Scott is set to go LIVE at 1 p.m. today, Friday, Aug. 19, to make his biggest prediction since he called the bottom of the COVID-19 crash.
Not only could this new trend affect you and your trading…
But the stars are aligning for a global crisis unlike anything the world has ever seen.
And it’s set to happen as soon as this winter.
Many are calling this looming crisis an even bigger threat than the global pandemic
Over the past week, I’ve warned you that markets are vulnerable…
In today’s stock market recap, I break down the S&P 500’s chart with updated support and resistance levels. I’ll also point out which four sectors are especially vulnerable over the next few weeks.
But it’s not doom and gloom for all stocks…
There’s one sector in particular that’s showing strength, and I expect it to move higher. Not only will I tell you the sector, but I’ll also tell you exactly how I’d trade it, including the options chain.
We’ll also take a look at the housing sectors. The numbers we’re seeing indicate we could be at the start of a housing recession.
With storm clouds moving into the markets, tech and growth stocks are seeing heavy selling, and bearish order flow is burning up the tape!
Semiconductor name Microchip Technology was among the hardest hit, dropping as much 5.7% from Tuesday’s closing price as shareholders unloaded the stock ahead of its Aug. 18 dividend date.
My scanners spotted massive bearish bets in the chipmaker, with one big-money trader sweeping up around 1,150 contracts of the Aug. 26 expiration, $71 strike puts for about $250,000 in premium!
Of course, this wasn’t the only name seeing outsized options activity…
Short-term Pullbacks provide opportunities to enter trades in the direction of the longer-term trend. Trade set-ups like this occur against short-term momentum (the pullback), but are in alignment with the longer-term trend, typically offering high-probability, low-risk trade ideas with a 2:1 (or better) reward-to-risk ratio.
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