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Micron Weighs on Chips, Tech as Hopes for a Santa Rally Fade

by | Dec 22, 2022 | Market Updates

Before we begin, I want to invite everyone to join On the Go Investing’s Celeste Lindman as she takes over my VIP Champion Trade Room for a special market update session at 10 a.m. ET today, Dec. 22!

She’ll discuss where we are in the global economy, why that’s important for us traders, and the strongest sectors responsible for driving our economy forward.

Use this link to join the session at 10 a.m. ET today: https://us02web.zoom.us/j/81470521405

Now, on to Thursday’s stock market recap…

The major indexes are down as the market sells off again heading into the long holiday weekend.

Tech stocks led the market lower, with Micron Technology Inc. (Nasdaq: MU) down 4% in premarket trading. The chip manufacturer released a disappointing quarterly earnings report and announced a 10% staff reduction, pulling down the rest of the chip sector along with it.

But it’s not all doom and gloom heading into the holidays… U.S. third-quarter gross domestic product came in at 3.2%, above consensus estimates and the prior figure of 2.9%.

In this morning’s stock market recap video, I’ll discuss whether Wednesday’s rally was meaningful or a bear trap… what the bond market is telling us about price action… whether semiconductors are set to rip higher or sink lower… the key report coming out Thursday that will shape market action… how to navigate the current market environment… plus a major sector update!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. Charting Some of the Biggest Moves This Week!

Federal Reserve rate hikes, gross domestic product data and consumer sentiment reports…

These critical announcements have many investors stressed about what’s to come in the near future, and what it means for their portfolios…

But me? I couldn’t care less.

That’s because I use an obscure charting tool to dissect the accelerated market moves we’re seeing right now. This tool harnesses the power of Wall Street to pick up on moves with high historical probabilities.

After all, it’s the holiday season… so who wants to be stressed during one of the happiest times of the year?

That’s why I just held a special presentation to show traders how to hunt down some of the biggest moves this week using this specific tool!

Watch the Event 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. 

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!

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

WRITTEN BY
Roger Scott

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