U.S. stock futures traded higher this morning as investors brace for what could end up being a greater interest rate hike than the market thought a few days earlier — and more in Wednesday’s stock market recap.
The put/call ratio — now at 1.13 — is still at escalated levels, which means more traders are buying puts than calls.
But on the other hand, the Consumer Discretionary Select Sector SPDR Fund (NYSEArca: XLY), which tracks consumer discretionary stocks in the S&P 500, hasn’t broken its lowest low. This is a positive sign that the market bottom is near because one of the weakest sectors has held up.
So if you think the market is going to drop another 15% to 20%, you’ve got another thing coming…
In this morning’s stock market recap video, I’ll show you what to expect from Wednesday’s Federal Reserve announcement… the biggest report of the week and what the numbers behind it mean… the top momentum indicators and what they imply about stocks right now… the top stock that’s waiting for a bounce… the weakest stock you’ll want to fade right now… and an update on the major indices and how their levels are impacting current trading action.
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. If the recent headlines about inflation and a possible recession have you worried, you’re not alone…
But before you think about going to cash…
Why don’t you give my brand-new style of trading a try?
It doesn’t require any sort of fundamental analysis or technical indicators and, most importantly, it’s crushed it during bear markets.
I’ve spent the past six months running tests on secret market patterns, and I’ve isolated the top 5 that have dominated over the past decade during all market conditions…
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.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 30,364.83.
- Futures: 30,570.
- Change: +215.
S&P 500 (mini)
- Close: 3,735.48.
- Futures: 3,775.
- Change: +34.75.
- Close: 11,311,69.
- Futures: 11,484.25.
- Change: +138.75.
- Close: 1,707.83.
- Futures: 1,724.7.
- Change: +16.4.
Note: Updated as of 9:19 a.m. EDT.
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 firstname.lastname@example.org!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.