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We Could Be Looking at a Breakout Above Crucial Levels

by | Oct 18, 2022 | Market Updates

The Nasdaq and S&P 500 rose 2% while the Dow jumped 600 points Tuesday morning as strong earnings reports added fuel to the rally — and more in Tuesday’s stock market recap.

Johnson & Johnson (NYSE: JNJ) beat top- and bottom-line estimates, sending shares up 1.7% in premarket trading.

Following strong results from Bank of America Corp. (NYSE: BAC) and The Bank of New York Mellon Corp. (NYSE: BK) on Monday, The Goldman Sachs Group Inc. (NYSE: GS) reported strong trading results that helped the bank beat earnings and revenue estimates. The news sent GS shares up more than 2%.

In this morning’s stock market recap video, I’ll discuss whether stocks have some momentum behind this move… key levels in three major indexes… whether this is the bottom and why… if volatility is set to rise or fall… which three sectors are moving the most right now… if the global economy if still ruining U.S. stock trends… which report is going to influence the market this week the most… an update on earnings on deck and what to expect this week.

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

P.S. The Oh-So Rare Energy Supercycle Is Here

We have all the makings of an extraordinary opportunity… Over the past month, we’ve experienced unprecedented events in the energy markets…

  • The Russia-Ukraine war continues to escalate.
  • OPEC cut production by 2 million barrels a day.
  • Strategic Petroleum Reserves hit new 40-year lows.
  • The Nord Stream pipeline was just sabotaged.
  • Energy prices in Europe are up 700%.

All these events contribute to an “Energy Supercycle” — the first in decades.

Those who play it right could stand a chance to collect a windfall over the coming months. So at 1 p.m. EDT on Tuesday, Oct. 18, Joy of the Trade’s Jeff Zananiri is issuing his No. 1 Energy Supercycle Play LIVE so you can take advantage of the upcoming opportunity.

Sign Up 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

Roger Scott

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