U.S. stock futures are higher this morning despite Wall Street falling close to bear market territory one day earlier — and more in Friday’s stock market recap.
I know I’ve been focused on the iShares 20 Plus Year Treasury Bond ETF (Nasdaq: TLT) all week, but it’s for a good reason… Because if the bond market decides to go higher after choppy trading, it’ll show us it believes long-term interest rates are going to stabilize.
If that happens, it’ll be a positive sign for the price of stocks…
In terms of the put/call ratio, it has moved higher to the 1.21 level on Friday, which still tells me the market is grossly oversold and near a turning point. That’s because the put/call ratio is a mean-reversion indicator. In other words, it tends to rise when the number of call buyers gets too low, and fall when the number of put buyers is too high.
In this morning’s stock market recap video, I’ll show you the key factor driving the market right now… where there’s major support and why… an update on volatility and how it’s reacting to the recent sell-off… why market sentiment is favoring the bulls… a full sector analysis update… and what trading action to expect next 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. New Money Crew Head Trader Lance Ippolito and his team have been testing a brand-new trading indicator for the better part of this year…
They’ve code-named this initiative Project X.
But before they roll it out as a full-blown trading strategy, they need to make sure the system is as rock solid as they believe it to be…
So far, the system has signaled winning positions in TSLA, AMD, COIN, UPST and PYPL.
Now Lance wants to take his testing to the next level — and he needs your help!
He’s looking for around 100 traders interested in beta testing this new indicator over the next couple of months.
Of course, Lance doesn’t expect traders to jump in sight unseen, so he put together a small demonstration on how it works…
*Past performance is not indicative of any future results. Trade at your own risk. From Feb. 25, 2022, through May 4, 2022, five winning positions were issued while four remain open. The average rate of return was 38.33% over a seven-day hold time.
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:
- Close: 31,253.13.
- Futures: 31,424.
- Change: +222.
S&P 500 (mini)
- Close: 3,900.78.
- Futures: 3,935.
- Change: +37.25.
- Close: 11,875.63.
- Futures: 12,023.5.
- Change: +145.25.
- Close: 1,776.22.
- Futures: 1,793.6.
- Change: +18.7
Note: Updated as of 9.24 a.m. EDT.
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
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 email@example.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.