The major indexes slid lower on strong jobs data — and more in Thursday’s stock market recap.
The ADP private payrolls report came in well above estimates, with employers adding 235,000 jobs in December. Wages also rose more than expected.
Meanwhile, weekly jobless claims came in below expectations. Continuing claims also decreased.
With all signs pointing to the job market remaining strong, investors fear the Federal Reserve will continue hiking rates even longer.
In this morning’s stock market recap video, I’ll discuss the key levels for upside and downside for the major indices… when the current consolidation will end and a new trend will begin… an update on momentum including which sector is most vulnerable… an update on today’s Fed data and what the bond market is pricing in… 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. Do You Know What a Codebreaker Stock Is?
I may have just “cracked the code” to a bear market with this one pattern!
I’ve found that over the past five years, this single candlestick pattern has a historic win rate of 100% on some of the most explosive stocks in the market!*
You’ve probably never heard of many of these names….
In fact, you won’t find a single one of them in the S&P 500!
No, they’re not speculative biotechs with no earnings, shady crypto companies or risky penny stocks…
But I will reveal how to trade them — at no cost!
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.
