Is More Upside Ahead or a Reversal? Plus the Top and Bottom Sectors

by | Jun 27, 2022 | Market Updates

U.S. stock futures traded higher this morning as Wall Street looks to continue its momentum following last week’s major rebound — and more in Monday’s stock market recap.

The biggest report to watch out for this week is Wednesday’s gross domestic product data. The GDP is crucial because consumer spending makes up about two-thirds of the U.S. economy, which will clue us in on whether things are heating back up or cooling off. 

It shouldn’t come as any surprise that I still have my eye on the bond market… 

The longer the iShares 20-Plus Year Treasury Bond ETF (Nasdaq: TLT) stays within the choppy range it’s in right now without breaking sharply lower, the more confident the bond market will be that interest rates aren’t going to go much higher in the near term. 

It’s no coincidence that the broader market gets its directional bias from the bond market, which is assimilating everything that’s known into its price. 

In this morning’s stock market recap video, I’ll show you the most probable move for stocks in the near term… why the market rallied so hard last week… which direction the bond market should move… the biggest Federal Reserve report this week… the sector traders need to pay the most attention to right now… whether there’s a major rotation happening in stocks or not… and some important price and resistance levels to look out for this week. 

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. What if I said there are a handful of stocks that have pushed higher, all while the broader market has been a complete disaster? 

Would you believe me? 

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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: 31,500.68.
  • Futures: 31,517.
  • Change: +30.

S&P 500 (mini)

  • Close: 3,911.74.
  • Futures: 3,924.5.
  • Change: +8.25.

NASDAQ (mini)

  • Close: 12,105.85.
  • Futures: 12,173.75.
  • Change: +33.25.

RUSSELL (mini)

  • Close: 1,765.74.
  • Futures: 1,765.1.
  • Change: +3.7.

Note: Updated as of 9:19 a.m. EDT.

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

WRITTEN BY
Roger Scott

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