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An Update on Momentum Levels, Plus the 2 Stocks I’m Watching

by | Aug 31, 2022 | Market Updates

The broader indexes moved higher following Wall Street’s three-day losing streak — and more in Wednesday’s stock market recap.

Earnings season continues this week, with pet products retailer Chewy Inc. (NYSE: CHWY) beating earnings estimates but missing on revenue, as well as issuing weak forward guidance. This news sent shares down about 11% in premarket trading.

HP Inc. (NYSE: HPQ) also missed revenue estimates, sending shares down about 6%.

Meanwhile, meme stock Bed Bath & Beyond Inc. (Nasdaq: BBBY) announced a new deal Wednesday morning that includes $500 million in financing, as well as plans for store closures and layoffs. Shares are down about 20% at the open.

In this morning’s stock market recap video, I’ll reveal if there’s a major shift in momentum levels… if defensive stocks are still leading and where tech is… how far bonds are from breaking down and what it means for stocks… an update on Fed data and preview of the biggest report of the week… plus two hot stock picks!

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. The Powerful ‘Numerical’ Sequence Hidden Behind Every Stock

Part supercomputer and entirely algorithmic…

We’re not talking about the next self-driving car, but rather the remarkable trading breakthrough known as the “S3 Advantage.”

Over two years in development, this brainchild of myself and Jack Carter is finally ready to be released to the public!

It all has to do with a powerful “numerical” sequence hidden behind every stock…

Jack and I joined forces to go live for the big reveal.

Catch the Presentation 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. 

Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

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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