The major indices opened higher, having turned things around on Thursday following President Joe Biden’s announcement of wider sanctions against Russia — and more in Friday’s stock market recap.
When we look at the market internals, all signs point to a rally.
The put/call ratio is currently above 1, indicating that markets are oversold. We also have less than 20% of stocks in the Nasdaq trading above their 50-day moving averages, which rivals the lows we saw during the worst days of the pandemic.
The markets shouldn’t go much lower, so it’s only a matter of time before we see the rally we’ve been waiting for.
In this morning’s stock market recap video, you’ll discover why U.S. stocks are rising… what the bond market is pointing to… whether current downside pressure will continue… if Federal Reserve data is impacting price action… how to navigate the current volatility levels… plus major levels for two top indices.
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. The Market Makes This Move 70% of the Time…
Believe it or not, but the stock market’s stagnant 70% of the time… So time decay is eating away at options, and traders everywhere are paying for it!
It’s no surprise that the Chicago Mercantile Exchange says 76.5% of options expire worthless.
So when rare and large moves in the markets occur, people often watch their trading accounts get wiped out time and time again. It’s a frustrating whipsaw of action that demoralizes traders.
That’s why Joy of the Trade Head Trader Jeff Zananiri’s No. 1 goal is to keep everyone ahead of this disappointing, costly process…
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
DOW (mini)
- Close: 33,223.83.
- Futures: 33,314.
- Change: +158.
S&P 500 (mini)
- Close: 4,288.7.
- Futures: 4,303.5.
- Change: +19.
NASDAQ (mini)
- Close: 13,974.67.
- Futures: 14,030.25.
- Change: +63.75.
RUSSELL (mini)
- Close: 1,995.36.
- Futures: 2,003.1.
- Change: +9.6.
Note: Updated as of 9:16 a.m. EST
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
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.
