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My Top 3 Sectors and Strongest Stocks as Major Retailers Report

by | Aug 23, 2022 | Market Updates

The major indexes were flat as the market tried to shake off its worst performance since June — and more in Tuesday’s stock market recap.

Videoconference company Zoom Video Communications Inc. (Nasdaq: ZM) dropped more than 11% in premarket trading following the company’s quarterly report. Zoom beat earnings estimates, but fell short on revenue and cut its full-year forecast.

Cybersecurity company Palo Alto Networks Inc. (Nasdaq: PANW) rose more than 9% premarket following its earnings beat and upbeat forecast. The company’s board of directors also approved a 3-for-1 stock split.

Tuesday is a big day for retailers, with DICK’S Sporting Goods Inc. (NYSE: DKS), Nordstrom Inc. (NYSE: JWN), Macy’s Inc. (NYSE: M) and Urban Outfitters Inc. (Nasdaq: URBN) reporting.

In this morning’s stock market recap video, I’ll reveal whether speculative sectors are back in play… which three sectors remain bullish… whether earnings are coming out better than expected this week… an update on the bond market with support levels… the major sector rotation taking place… the strongest stocks that should rally in the next few days, plus the weakest stocks that are set to dump this week. 

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. Wall Street Secret Exposed 

Have you ever noticed after a stock has been down for 30 days… 60 days… shoot, even 90 days…

The big banks then come out and downgrade it?

If you think that “sounds fishy,” then you’re just like Joy of the Trade’s Jeff Zananiri… And you’re right, it is fishy.

So Jeff started digging, and what he found was shocking.

What if Wall Street downgrades a stock… to go LONG on it?

And what if Wall Street upgrades a stock… to SHORT it?

What Jeff uncovered is not just eye-opening, but it could be extremely valuable for a small group of traders who know this ONE secret…

Find Out 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. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 33,063.61.
  • Futures: 33,012.
  • Change: -44.

S&P 500 (mini)

  • Close: 4,137.99.
  • Futures: 4,135.25.
  • Change: -6.

NASDAQ (mini)

  • Close: 12,890.54.
  • Futures: 12,889.
  • Change: -20.75.

RUSSELL (mini)

  • Close: 1,915.74.
  • Futures: 1,918.3.
  • Change: +1.3.

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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