What My No. 1 Sentiment Indicator Is Screaming Right Now

by | Nov 18, 2021 | Market Updates

The Nasdaq is on fire this morning and we should have a strong open — and more in Thursday’s stock market recap.

The S&P 500, Nasdaq and Dow are still hovering just shy of their Nov. 8 all-time highs, but the Dow looks a bit weak. 

The put/call ratio is something to keep an eye on after closing at 59 on Wednesday. Folks, this market is slowly getting wound up. The bottom line is we’re seeing divergence and things need to cool off in a big, big way…

Retailers Kohl’s Corp. (NYSE: KSS) and Macy’s Inc. (NYSE: M) are up sharply on better-than-expected earnings and look strong heading into the holidays.

Nvidia Corp. (Nasdaq: NVDA) exceeded expectations on both earnings per share and revenue, sending the stock up 8% in premarket trading. 

Cisco Systems (Nasdaq: CSCO), however, is down 6% after missing on quarterly revenue. 

Stock futures moved up slightly and bond yields steadied on a COVID-era low of 268,000 jobless claims (more on that below). 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,931.05.
  • Futures: 35,893.
  • Change: +23.

S&P 500 (mini)

  • Close: 4,688.67.
  • Futures: 4,697.75.
  • Change: +11.5.

NASDAQ (mini)

  • Close: 16,308.07.
  • Futures: 16,396.5.
  • Change: +83.5.

RUSSELL (mini)

  • Close: 2,377.01.
  • Futures: 2,381.4.
  • Change: +7.2.

Note: Updated as of 09:13 a.m. EST

Roger’s Radar: Jobless Claims May Have Plateaued 

Jobless claims fell to 268,000 last week, in line with the past month and a dip of 1,000 from the week before. This is an indication that the labor market may be leveling off. 

Per CNBC: 

The four-week moving average, which smooths out weekly volatility, declined to 272,750, just a bit above the total for the most weekly count.

Continuing claims, which run a week behind the headline number, declined by 129,000 to 2.08 million, also a pandemic-era low dating back to March 14, 2020.

In this stock market recap video, you’ll discover whether global markets are set to trend or congest… whether U.S. stocks are as healthy as they appear… which sector carries the most vulnerability to a pullback… why the bond market is not going lower… what my No. 1 sentiment indicator is screaming… and the top ETF to buy for the next few months. 

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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Each Thursday, I’ll combine two of my favorite things into a big-money opportunity: options plays and ETFs. Using options, we can turn momentum analysis of a specific sector — or even an entire country’s stock market — into an actionable trade with double- or triple-digit upside potential. I’ll give you all the details you need to execute this plan.

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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