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Are Major Momentum Levels Rolling Over as Retailers Report?

by | Aug 16, 2022 | Market Updates

The major indexes are down as investors digest several key earnings reports — and more in Tuesday’s stock market recap.

Retail giant Walmart Inc. (NYSE: WMT) beat on both earnings and revenue estimates, reaffirming its forecast for the second half of the year and sending shares up about 4.5% in premarket trading.

Investors were keen to learn how Walmart would perform following its profit warning last month. The company grappled with issues like consumers’ changing spending habits and a glut of excess inventory.

Home improvement retailer The Home Depot Inc. (NYSE: HD) also beat estimates on both earnings and revenue. Despite the beats, customer transactions fell from $481 million in the same quarter the previous year to $467 million for the quarter, and the stock slipped 1.5% premarket.

In this morning’s stock market recap video, I’ll give an earnings update on two big retailers… a momentum update on the overall market and tech sector… Federal Reserve data we must watch this week… whether energy will continue to lead or utilities will become the top sector… whether volatility is moving higher or is about to fall… plus the best way to approach the market right now.

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. This Could Be My Biggest Prediction Yet 

I’m going live at 1 p.m. EDT TODAY, Tuesday, Aug. 16, to reveal my biggest prediction since I called the bottom of the COVID-19 crash.

Not only could this new trend affect you and your trading…

But the stars are aligning for a global crisis unlike anything the world has ever seen.

That’s why I’m holding this urgent session to cover…

  • Why billionaires are piling into one little-known sector in preparation for what might be the worst crisis yet this coming winter.
  • What experts are saying about a rare 20-year supercycle.
  • And why parking your money in the S&P 500 over the next few months could cause you to miss out on what could be the most explosive trading opportunities.

This is a session you don’t want to miss!

Join at 1 P.M. EDT Today! 

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 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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