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Market Approaches Key Levels for a Breakout. Can the Rally Continue?

by | Feb 9, 2022

The major indices are poised to open higher following a solid rally on strong earnings — and more in Wednesday’s stock market recap.

As I’ve said before, there are certain levels we need to overcome in order for the market to rally, and right now, things are looking good.

The Dow was up more than 200 points premarket after closing up 400 points on Tuesday. And The Walt Disney Co. (NYSE: DIS) hasn’t even reported yet — it’s scheduled for after the bell on Wednesday.

While strong earnings are driving the market action, we’ll want to pay attention to key Federal Reserve data coming out this week, because one report in particular could make or break the rally…

The Consumer Price Index comes out on Thursday, which will tell us how much inflation is affecting consumers.

Economists expect the report to show inflation at a four-decade high of 7.3%, but if we come in below this number, the market should continue to rise.

In this morning’s stock market recap video, you’ll discover which sectors are picking up momentum… current sentiment in the broader market… the market-moving Fed data coming out soon… key price levels across all major indices… plus my top small-cap breakout stock and the weakest mid-cap stock ready for breakdown, complete with profit targets.

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! 

P.S. My Second Biggest ‘Buy Alert’ EVER

Markets have been wild lately and it’s getting harder to find opportunities… especially if you follow strategies designed to work in ordinary times.

That’s why I’ve decided to host an urgent, complimentary bootcamp at 1 p.m. EST Wednesday, Feb. 9. 

I’ll go over tech stock momentum levels in the Nasdaq, pending Federal Reserve actions, and why volatility levels might have temporarily peaked. 

So join me at 1 p.m. EST TODAY to talk more about the current state of the market, and get my second biggest buy alert ever

Click Here to Reserve Your Seat! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,462.78.
  • Futures: 35,592.
  • Change: +248.

S&P 500 (mini)

  • Close: 4,521.54.
  • Futures: 4,554.5.
  • Change: +41.75.

NASDAQ (mini)

  • Close: 14,747.03.
  • Futures: 14,914.
  • Change: +179.5.

RUSSELL (mini)

  • Close: 2,045.37.
  • Futures: 2,059.8. 
  • Change: +19. 

Note: Updated as of 9:26 a.m. EST  

Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

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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