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Downside Ahead in Tech and Consumer Stocks as Retail Earnings Loom

by | Aug 15, 2022

The broader market dropped following four straight weeks of gains for the S&P 500 — and more in Monday’s stock market recap.

This move lower comes as China releases disappointing economic data as the country’s industrial production and retail sales growth fell below analysts’ expectations.

Meanwhile, Wall Street prepares for another big week of earnings data with big U.S. retailers ready to report.

All eyes will be on Walmart Inc. (NYSE: WMT) and Target Corp. (NYSE: TGT) to see how the companies have been affected by inflation and other macroeconomic pressures in light of their missed earnings in the first quarter.

In this morning’s stock market recap video, I’ll reveal what momentum levels are telling us about the current trading action… if tech will fall again or continue to rise… what will happen to consumer stocks this week… the biggest report from the Federal Reserve… if volatility will increase or decrease in the days ahead… the most important earnings reports… plus a full sector update and where to position yourself.

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. How to Build Your Own ‘Frontrunner’ Portfolio 

My three-day virtual workshop kicks off in a few hours at noon EDT, and I couldn’t be more excited…

I’m covering exactly how I isolate and select “Frontrunners,” what it takes to custom-build your own ETF or rotational program, and how to manage an entire portfolio…

So if you’re ready to take control of your financial future and learn how to curate your own personal ETF, don’t miss my virtual workshop!

Claim 1 of the Remaining Tickets 

P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.

That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!

Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.

Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details. 

To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!

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 the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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