1 Sector Set to Rise in This Fragmented Market

by | Nov 19, 2021 | Market Updates

I see signs that the stock market is becoming fragmented, so I’m going to discuss what’s causing it, what you need to watch out for and how you can take advantage of it — and more in Friday’s stock market recap.

The major indices are all over the map this morning… 

The Dow is down a couple of hundred points, but the Nasdaq is up almost 70 points while the S&P 500 is down slightly.

A lot of Nasdaq stocks are also in the S&P 500, so that tells me a handful of those names are causing the climb we’re seeing there. This is creating a distorted market that’s not sustainable.

The Dow is down 0.6% for the week and on pace for its second straight losing week. The S&P 500 is on pace for its sixth straight winning week and sitting just 0.3% below its all-time high.The Nasdaq is up 0.8% so far this week.

Meanwhile in Europe, COVID cases are spiking again, leading to renewed lockdowns and vaccine mandates. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,870.95. 
  • Futures: 35,614. 
  • Change: -197. 

S&P 500 (mini)

  • Close: 4,704.54. 
  • Futures: 4,693.75. 
  • Change: -7. 

NASDAQ (mini)

  • Close: 16,482.97. 
  • Futures: 16,565.5. 
  • Change: +85. 

RUSSELL (mini)

  • Close: 2,363.59. 
  • Futures: 2,341.7. 
  • Change: -22.5. 

Note: Updated as of 09.08 a.m. EST

Roger’s Radar: The Build Back Better Vote and Fed Moves

On my radar this morning is also what’s on Wall Street’s… and that’s the Democrats’ spending bill. The House is going to vote Friday on President Joe Biden’s Build Back Better bill, a slimmed-down but still major spending package. 

It will be funded largely by higher taxes on corporations and rich Americans, but the Congressional Budget Office says it will add $367 billion to the budget deficit, not counting additional revenue generated by better tax enforcement. 

A couple of Federal Reserve governors are also on tap to speak, so I’ll be reading to see if we can glean anything about potential upcoming interest rate hikes. 

In this morning’s stock market recap video, I’ll reveal why the Nasdaq is up and Dow Jones is down… what to expect from stocks in the next few days… whether bonds are done trading higher… why the put/call ratio is sending a clear signal… why divergence in tech and chip stocks could be an issue… whether volatility is set to increase… which sectors remain fragmented and which one is set to rise. 

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. Tiny $9 Stock Poised to Strike During Holidays

This seasonal effect is in full swing… 

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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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