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Why I Don’t Trust the Action in the Nasdaq Right Now

by | Apr 28, 2023

The market stumbled Friday morning as investors considered the latest round of earnings reports.

Amazon.com Inc. (Nasdaq: AMZN) beat revenue estimates but reported its cloud business decelerated in the first quarter. Shares initially rose but were down 3% Friday morning.

Elsewhere in the tech space, Snap Inc. (NYSE: SNAP) fell 18% on missed revenue and Pinterest Inc. (NYSE: PINS) dropped 14% on disappointing second-quarter guidance.

We saw a lot of upward momentum earlier this week on strong earnings, but it may have been too much too soon, especially for tech stocks.

The Nasdaq might be approaching swing highs, but I’m being cautious right now. And in today’s video, I’ll explain why.

In this morning’s stock market recap video, I’ll discuss which sector I believe is being manipulated by algo traders.. why I’m concerned about the market turning south right now… an earnings update and what to expect next week… key levels to watch for the S&P 500 and Nasdaq… which sector is oversold… why I’m concerned about Federal Reserve data… plus the top earnings to watch out for today!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. Why So Many People Are Using Lance’s Scanner!

Lance Ippolito just held a beta test class for his options scanner, and due to popular demand, he’s opening up enrollment one more time!

Those who enroll through the weekend will also be able to join Lance in his next private training class  at 9:30 a.m. ET on Monday, May 1.

Lance’s scanner has already identified some incredible opportunities in CoinBase, Intel, Starbucks, Pinterest and more!

Get the Details Here 

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. 

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 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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