It's here! Enjoy this week's FogCutter...

June 3, 2024 Dear , Welcome to the FogCutter, a weekly treasure wire from Traders Edge Network. Each Monday we come into port, drop anchor and ready the sails! The FogCutter aims to guide you through today's perplexing market action and noise. Check out our view from the Crow's Nest, the quick-glance "Treasure Hunting Climate" and other direct and relevant bulletins for this week.. Chart your course for the coming week with this edition of the FogCutter! Here’s what we got on deck for you today: 💣 Fed Has No Urgency in Cutting Rates ✂️ 💣 Stocks Plunge as Investors Retreat from Big Tech 📉 💣 Video: Money Press Trade on $SMCI Markets At A Glance🔎 As of June 3, 2024, 12:25 PM MST Treasure Hunting Climate 📈 Last week, we talked about how the broad markets stalled a bit and that we wondered if the bulls were losing their momentum. That hunch played out as the markets pulled back Wednesday, Thursday, and Friday. The volume during those days of selling was relatively tame, so we are watching to see if we can gain a foothold here and if this can be a nice "buy the dip" opportunity. The flip side is that the market needs a little more selling here. Of course any major inflation or interest rate news can spark a move in either direction. Another noteworthy observation was the big intraday reversal and the buying that came in to close out the day on Friday. Buying programs were triggered and we saw a pretty impressive reversal to see the S&P and the Nasdaq rally off of their lows. We are watching closely to see if some buying pressure can come in and give us a push back up to the May highs. See you all next week! View From The Crow's Nest 👀 Fed Has No Urgency in Cutting Rates ✂️ The Fed’s commitment to higher rates remains firm after the latest inflation data showed persistent price stickiness. Hopes for a rate cut this year are fading, with investors now seeing nearly a 50% chance that the Fed won’t cut rates in September. [See Full Article]( Stocks Plunge as Investors Retreat from Big Tech 📉 US stocks plunged deeper into the red on Friday as investors retreated from the big tech names that have driven much of the market's growth this year. The main issue is earnings reports from major companies. Dell (DELL), MongoDB (MDB), and Salesforce (CRM) have spooked the Nasdaq. Despite Dell reporting a rise in revenue, its shares plummeted 22% due to disappointing AI server sales. [See Full Article](=) Mumsy's Meme Of The Week 😂 WOW Insider Receive Preston's Live Trades and More! Gain exclusive benefits as a WOW Insider, including access to LIVE Friday morning webinars, 31+ training videos on Preston's option strategies, a member forum for Q&A, and updated trade journals. [Find Out More]( Free Resource LEARN HOW TO DO IT YOURSELF Head to the TEAM HUB for more options training. Learn the basics of options, how to setup an account, and place your first Money Press trade through the Onramp. [Go to T.E.A.M. Hub]( Economic Calendar 🌎 Earnings Calendar 💰 Video of the Week 📹 Watch Preston's right-hand man, Mike Curtis, show you the different options you have to adjust your positions when a big up move occurs on a stock. Learn how to reset your Money Press trade when this happens to see how you can continue to make a profit in the future. [Watch Now](=) Happenings At The Land Office 🏝 Fired up the smoker for The Crew—chicken kebabs and ribs on deck! I hope you enjoyed this edition of "The Fogcutter". You can expect this in your inbox every Monday moving forward. Have a great week! - Preston [Unsubscribe]( Traders Edge Network 8180 South 700 East Suite 210 Sandy, Utah 84070 United States (801) 733-4190