The broader indexes dropped on a strong jobs report — and more in Friday’s stock market recap.
Payrolls rose by 263,000, just shy of the Dow Jones’ estimate of 275,000, while the unemployment rate fell 0.2% to 3.5% for September.
With job growth remaining strong, the market expects the Federal Reserve to move ahead with another 0.75% interest rate hike at its November meeting.
A lot of investors are scared right now… And when people are scared, they second guess their strategies.
That’s what makes algorithms so useful — with algos, you don’t have to second guess. You can trade consistently and without emotion, knowing that you have an edge.
That’s also why I’m holding a special event at 1:30 p.m. EDT today, Friday, Oct. 7, to share how algorithms work, explain which ones are hitting right now and which ones aren’t, answer your questions and more!
In this morning’s stock market recap video, I’ll discuss why weaker data is sometimes better for the stock market… an update on the long bond in light of major Fed data… volatility and how it’s impacting stocks… the top 3 sectors and the top stocks in each… major levels for key indices… plus practical considerations for the current market cycle.
P.S. These 5 Patterns Have an 89%* Win Rate and Could Change Your Life
This could very well be your moment… One of those moments that in time, you reflect back on and think…
“I’m glad I made that decision!”
All you need to do is watch my short training session at 1:30 p.m. EDT on Friday, Oct. 7.
You’ll learn how to trade five revolutionary market patterns that have achieved an 89%* win rate so far in 2022.
So forget about fundamentals…
Ditch the technical analysis…
And learn exactly what these five patterns are all about.
*Not indicative of any future results. Trade at your own risk
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!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.
