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This Key Sector Is Ready for a Potential Breakout

by | Feb 8, 2022

U.S. stock futures remain flat as the major indices looked set to open lower again — and more in Tuesday’s stock market recap.

Even when the markets open higher, they’re drifting lower throughout the day, which is a bearish sign. So we’ll want to see if some of the Federal Reserve data coming out this week can turn things around.

On Tuesday, we have the latest Redbook, the private report on retail sales, and the latest International Trade in Goods and Services data, which will tell us how the supply chain is holding up and if bottlenecks are still impacting trade.

More importantly, the Consumer Price Index and consumer sentiment reports come out later this week, which will give us an idea how inflationary pressures are affecting consumers.

And if these reports are good, they should lift the Information Technology and Consumer Discretionary sectors, which have been hovering around their 200-day moving averages.

In this morning’s stock market recap video, you’ll learn whether tech is becoming increasingly bullish or bearish… an update on market internals and whether we’re sinking or soaring… the biggest Federal Reserve report this week… important price levels for major sectors… volatility and whether it’s increasing or declining… plus the strongest sector and stock right now. 

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to! 

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Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,091.13.
  • Futures: 35,047.
  • Change: +76.

S&P 500 (mini)

  • Close: 4,483.87.
  • Futures: 4,472.25.
  • Change: -3.5.

NASDAQ (mini)

  • Close: 14,571.25.
  • Futures: 14,526.
  • Change: -33.75.

RUSSELL (mini)

  • Close: 2,012.6.
  • Futures: 2,006.3.
  • Change: -1.1.

Note: Updated as of 9:18 a.m. EST  

On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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