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Momentum Levels Signal Trouble Ahead… and Blue Chips Are Seeing Red!

by | Nov 29, 2022 | Market Updates

Before we get to the stock market recap, I have a special announcement to make…

Tuesday’s The Big Picture — where I sit down with special guest Celeste Lindman — is about to get started!

Celeste is a former registered CPA who got her start at Lehman Hutton before moving on to Ernst & Young — Wall Street-trained, through and through!

Following the Great Recession, she realized that no one — including her financial adviser — cared about her money more than her.

So she sought out the top trading minds in the business — Tom Busby, Chuck Hughes and Jack Carter, just to name a few — to hone her skills. Then she began teaching fellow traders at in-person events and online classes.

We’ll discuss what seasonality says the market might do through 2023, this week’s upcoming gross domestic product report and Federal Reserve talks, and how those two events stand to impact the market. And, of course, we’ll break down market levels and let you know of any opportunities we’re watching.

We’ll cover all this and more, and we’re just about to get started at 10 a.m. ET!

Go here to join!

Stock Market Recap, Nov. 29, 2022

The S&P 500 and Nasdaq ticked higher Tuesday morning following Monday’s sell-off — and more in Tuesday’s stock market recap.

The move higher followed a rally in Chinese stocks after reports out of China claimed 65.8% of people over the age of 80 have received COVID-19 booster shots.

A lot of investors think the market is heating up, but I don’t think this momentum is going to hold.

When stocks open higher after a down day, they tend to head even lower.

And when you look at momentum levels and market internals, things look a lot more concerning…

In this morning’s stock market recap video, I’ll reveal what momentum levels are pointing to next and why I believe markets have more downside pressure… what volatility has to say about current price action… where I see the S&P 500 and Dow trading down to… how to gauge the number of stocks making highs and lows right now… plus a current review of weekly traps and opportunities!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. What WWII, the Great Recession and the COVID-19 Crash Had In Common

Trading has been harder than ever for most this year…

But what if you were able to take advantage of ONE market trend that’s been proven, time and time again?

One that’s never failed to unfold, even during the Great Depression, World War II, 1987’s Black Monday and the dot-com crash, to name a few…

We’re talking about one trend a very unlikely trader stumbled upon about 560 days ago… And once she shared this trend with me, I was SHOCKED!

I couldn’t believe I’d never seen this in my near-three decades of trading…

That’s why I insisted she reveal it to all my readers in a special live presentation. And the best part is, it didn’t cost a thing to attend!

If you missed the live event, not to worry…

There’s Still Time to Catch the Replay Here 

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. 

On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.

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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