loader image

The Top Sector and Stock as Price Action Shows Its Hand

by | Feb 1, 2022 | Stock Market Sectors

The markets look to start fresh after a rough first month of the year after Exxon and UPS report better-than-expected earnings — and more in Tuesday’s stock market recap.

January typically sets the tone for the rest of the year, but things will be different in 2022.

COVID-19 changed things drastically. The Federal Reserve pumped a lot of capital into the markets over the past few years, and bond purchasing distorted the action we would typically see.

We can’t necessarily look to past trends, nor can we put too much weight on the fluctuations we’re seeing now compared to those we saw years ago, because the conditions are so different.

That said, as long as the major indices continue to see higher highs and higher lows, we will be in good shape.

It’s also a good sign that companies are reporting better-than-expected earnings. 

Exxon Mobil Corp. (NYSE: XOM) missed on its revenue estimates but still beat earnings per share, causing its stock to rise 1.5% in premarket trading on Tuesday. United Parcel Service Inc. (NYSE: UPS) beat on earnings and revenue, and raised its quarterly dividend by nearly 50%. It was up 8% in premarket trading.

In this morning’s stock market recap video, you’ll discover whether earnings or Fed data are driving the stock market right now… what major levels on the S&P 500 and Dow generate bullish momentum… a broad look at momentum and pullback… whether volatility is favorable or exploding… an update on earnings… plus the top stock in the top sector and the bottom stock in the bottom sector. 

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. More Bang for Your Buck! 

Everyday traders are just moments away from taking advantage of a special, limited time only payment-plan offer… 

Think of it as a way to trade my hottest, high-velocity pullback stocks every week for a small fee instead of paying for an entire year upfront. 

I send out multiple trade alerts every month, one of which just scored a 40% gain in one day! 

So I wouldn’t hesitate to say these pullback trades have been on fire!

The next batch of trade alerts are available for 90% less than the normal retail rate… 

So Click Here to Get in on Them Now! 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,131.86.
  • Futures: 35,020.
  • Change: +23.

S&P 500 (mini)

  • Close: 4,515.55.
  • Futures: 4,508.5.
  • Change: +4.25.

NASDAQ (mini)

  • Close: 14,930.05.
  • Futures: 14,948.75.
  • Change: +42.5.

RUSSELL (mini)

  • Close: 2,028.45.
  • Futures: 2,025.2.
  • Change: +1.5.

Note: Updated as of 9:17 a.m. EST  

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 Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

What to read next

99 Problems and a “Pivot” is One

99 Problems and a “Pivot” is One

A friend of mine sent me this chart about three months ago. I should probably print it and keep it in my wallet next to a photo of my daughter. Given the sheer number of questions I’ve fielded lately, I’ll probably end up showing this chart more than her picture.

read more
Everything Everywhere, Going Down, All At Once

Everything Everywhere, Going Down, All At Once

When our momentum reading went negative last week, I didn’t know that we’d have the second largest bank failure in U.S. history three days later. All I knew was that it went negative… and that we got out of the way.

read more
Trust But Verify…

Trust But Verify…

I want to talk about our version of “Trust but Verify” in the markets. Qualification is the most important part of the investing process. And this F score value strategy looks to be crushing the current market.

read more

Have any questions? Contact Our Customer Service Team