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Why Consumer Stocks Could be Bottoming and My Top Algo Trading Tips

by | Oct 21, 2022 | Market Updates

The major indexes stumbled as investors weighed the latest round of earnings and the Federal Reserve’s next move — and more in Friday’s stock market recap.

Social media company Snap Inc. (NYSE: SNAP) disappointed on both revenue and average revenue per user, a key metric for the company. This caused shares to plummet about 28% in premarket trading Friday.

American Express Co. (NYSE: AXP) also disappointed on revenue, falling 5%.

These negative earnings reports are pulling down other companies like Meta Platforms Inc. (Nasdaq: META) and Alphabet Inc. (Nasdaq: GOOG), which are down 4% and 1.8%, respectively. These companies don’t report until next week.

In this morning’s stock market recap video, I’ll discuss which sectors are thriving and which are failing, a broad view of the global economy… the top ETF that keeps trending stronger… an update on the bond market and what to expect… the divergence between small caps and interest rates… plus how algos have changed the dynamics of momentum in the past 30 years.

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

P.S. Are You Ready for Nov. 2? 

Many investors have no clue, but these Federal Reserve rate hikes could cause a significant shift in the S&P 500 sectors.

And investors who know what to look for have been able to isolate monster paydays.

That’s why I’m going LIVE at 1:30 p.m. EDT today, Friday, Oct. 21, to reveal everything I see going down before the November rate hike.

But most importantly, I’ll show you why you shouldn’t be concerned about the market’s direction.

Watch the Live Event 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 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.

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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