The major indexes are mixed to start December, extending Wednesday’s rally — and more in Thursday’s stock market recap.
The S&P 500 and Nasdaq ended their three-day losing streaks Wednesday as Federal Reserve Chair Jerome Powell appeared to confirm the central bank would start to slow down the pace of its rate hikes.
Thursday morning’s October Core Personal Consumption Expenditures Index, which gauges spending, came in cooler than expected, at 0.2% versus the 0.3% expected, signaling inflation continues to slow.
In this morning’s stock market recap video, I’ll reveal why I’m suddenly turning bearish… which indicators are showing deep overbought levels… what I believe volatility will do next… which sector to stay away from right now… what the market is assimilating at these levels… what the next big catalyst for price action is… plus my top ETF and option pick!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. 2023 Is Around the Corner
If you’ve been considering changing up your trading… or trying a new strategy… I urge you to join me at 1 p.m. ET TODAY, Dec. 1, for my special end-of-year training!
I’ll go over:
- Ten core lessons for high-probability trading.
- The five most important chart patterns to memorize and watch for.
- The basics on some of the best-performing strategies we’ve seen in the 2022 bear market.
- And a special surprise for anyone who attends!
Go Here to Join the Training at 1 P.M. ET
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.
Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.
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!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.
