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Market Breakout Levels Plus an Earnings Season Preview…

by | Jul 18, 2022 | Market Updates

The major indexes jumped to start the week following Friday’s strong retail sales report — and more in Monday’s stock market recap.

The retail sales report was one of the reasons the market rallied on Friday, and likely part of the reason it continued to rally Monday morning. We’re seeing followthrough from Friday, which is rare lately and bullish in my book.

Inflation expectations are also holding steady or improving along with consumer sentiment, according to a July survey from the University of Michigan.

And remember, consumers drive the economy, so if consumer sentiment remains strong, it’s a good thing for the majority of companies and the market.

This report also bodes well as consumers and investors alike look for the Federal Reserve to back off from its aggressive interest rate hikes.

Be aware that the week ahead may be a volatile one — earnings season continues with Netflix Inc. (Nasdaq: NFLX) reporting Tuesday, Tesla Inc. (Nasdaq: TSLA) and United Airlines Holdings Inc. (Nasdaq: UAL) reporting Wednesday, American Airlines Group Inc. (Nasdaq: AAL) on Thursday and Twitter Inc. (NYSE: TWTR) on Friday.

In this morning’s stock market recap video, I’ll explain the Fed data we need to pay close attention to… which sectors and stocks are prime for upside movement… what’s driving this market right now… an earnings preview for the week ahead… plus the key breakout levels for major indices.

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. Unbelievable 100% Win Rate, in THIS market?!

My 249 beta-testers actually did it!

The FIVE secret patterns have achieved a 100% win rate on LIVE trade alerts so far!*

All while the markets have been a complete trainwreck!

That’s why I’m going LIVE at 1 p.m. ET on Tuesday, July 19 to reveal these five secret market patterns immediately…

You’re going to see exactly what the patterns are, the historic win rate and profit factor of each one… and even get the exact entry and exit rules of the strategy.

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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. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 31,288.26.
  • Futures: 31,518.
  • Change: +271.

S&P 500 (mini)

  • Close: 3,863.16.
  • Futures: 3,895.25.
  • Change: +30.25.

NASDAQ (mini)

  • Close: 11,983.62.
  • Futures: 12,121.
  • Change: +113.5.

RUSSELL (mini)

  • Close: 1,744.37.
  • Futures: 1,761.3.
  • Change: +16.8.

Note: Updated as of 9:29 a.m. ET

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.

*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time. 

WRITTEN BY<br>Roger Scott

Roger Scott

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