This Sector Set to Fall as the Market Heads for a Pullback

by | Nov 12, 2021 | Market Updates

Markets are up this morning despite negative news from Walt Disney Co. (NYSE: DIS) — and more in Friday’s stock market recap.

The bond market was closed for Veterans day on Thursday but opened back up on Friday with the 10-year Treasury yield up to 1.58%. 

U.S. stock futures are up Friday morning, thanks to strength in the Dow following health care giant Johnson & Johnson’s (NYSE: JNJ) announcement that it will be splitting into two companies. Shares of JNJ rose 3% on the news.

We’re also awaiting the consumer sentiment report. Consumer sentiment is a big deal because consumer spending makes up two-thirds of our economy.

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Indicated close: 35,921.23
  • Futures: 35,941
  • Change: +112

S&P 500 (mini)

  • Indicated close: 4,649.27
  • Futures: 4,654.75
  • Change: +11.75

NASDAQ (mini)

  • Indicated close: 16,032.47
  • Futures: 16,066.25
  • Change: +43.5

RUSSELL (mini)

  • Indicated close: 2,409.14
  • Futures: 2,415.8
  • Change: +7.5

Note: Updated as of 8:59 a.m. 

Roger’s Radar: Heading for a Pullback 

On my radar Friday is the put/call ratio. It’s at 0.81 now but has dropped below 0.70 a few times recently, indicating that the market is too bullish.  

In this morning’s stock market recap video, you’ll discover why sectors remain fragmented… whether volatility is set to rise or fall… what the put/call ratio is telling us right now… which index money is flowing into… whether the Chinese economy is heating up or cooling off… and whether the U.S. market is going to cool off or heat up 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! 

 

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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.

Check back each morning for Roger’s Radar 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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