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Thursday’s CPI Data Looms Large With the Nasdaq at a Key Level

by | Jan 9, 2023 | Market Updates

The major indexes rose higher to start the week as traders look to build on Friday’s gains — and more in Monday’s stock market recap.

Today is the first real trading day of the year as far as the market is concerned. Activity was subdued and random for the past few holiday-shortened weeks as many traders took off.

I expect we’ll see activity and volatility start to ramp up, especially with this week’s loaded agenda….

Federal Reserve Chair Jerome Powell speaks on Tuesday, with other Fed officials speaking throughout the week.

We’ll also get the latest Consumer Price Index inflation data and jobless claims on Thursday, followed by import and export prices, and consumer sentiment info on Friday.

In this morning’s stock market recap video, I’ll discuss why we need to focus on resistance levels on the Nasdaq right now… whether stocks overreacted to Friday’s jobs report… why I believe tech is going to trade lower in the coming days… whether energy stocks are rising again or ready to revert lower… an update on China and how it’s going to impact stocks in the next few months… plus the biggest report this week and what to expect from the Fed!

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

P.S. The Key Time to Trade During Earnings

Everyone who’s traded for any amount of time knows that earnings reports are a BIG deal.

But did you know that after a certain earnings report, there is a unique 72-hour window that real professionals know is the key time to trade during earnings season?

This three-day period is when stocks could move the most — regardless of the overall market!

Tom Busby and I believe we’ve cracked the code to tap into this unique earnings drift phenomenon…

And we’re holding a special live presentation to share all the details on this breakthrough earnings strategy, right at the start of earnings season.

Reserve Your Spot 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. 

To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!

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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