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Crucial Resistance Levels to Watch This Week… Plus the Top Catalyst

by | May 31, 2022

U.S. stock futures are down this morning as Wall Street resumes trading following the long holiday weekend — and more in Tuesday’s stock market recap.

I know I’ve mentioned this before, but whenever we have a big holiday — like Memorial day — we typically have a fragmented week that starts out real slow and then tends to pick up the pace after a few days. 

But things might be a little different this week because volatility on the SPDR Dow Jones Industrial Average ETF Trust (NYSEArca: DIA), an ETF that tracks 30 large-cap U.S. stocks in the Dow, is declining. If volatility on the Dow continues to go lower, there’s a good chance DIA will break even higher. 

I still have my eye on the iShares 20 Plus Year Treasury Bond ETF (Nasdaq: TLT) because if the bond market continues to move higher, it means there’s less pressure on stocks. This could also signal to the broader market that the worst inflationary pressure is behind us. 

In this morning’s stock market recap video, I’ll show you which sector is bucking the downtrend… the major Federal Reserve report we need to watch this week… whether the bond market is changing directions… key volatility levels and what it could mean for the market… the three biggest companies reporting earnings this week… and crucial resistance levels we need to pay attention to. 

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. It’s no secret the stock market is a complete mess right now…

But believe it or not, there are stocks that are still driving the markets… and stocks that are also making new all-time highs! 

They aren’t the well-known names that people were trading during the post-COVID-19 crash bull market… 

I’m talking about value plays that have dirt cheap call options right now, and the defensive names that thrive during bear markets.

So I’m going live at 1 p.m. EDT on Tuesday, May 31, to show everyone how they can get in on the action!

I’ll show everyone exactly what these stocks are, how to find them and, most importantly, how to prepare for what’s coming next. 

There’s Still Time to Register!

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: 

DOW (mini)

  • Close: 33,212.96.
  • Futures: 32,945.
  • Change: -213.

S&P 500 (mini)

  • Close: 4,158.24.
  • Futures: 4,129.5.
  • Change: -26.25.

NASDAQ (mini)

  • Close: 12,681.42.
  • Futures: 12,632.5.
  • Change: -42.75.

RUSSELL (mini)

  • Close: 1,887.9.
  • Futures: 1,875.4.
  • Change: -10.4.

Note: Updated as of 9:20 a.m. EDT.

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 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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