1 Oversold Sector as Market Heads for a Big Losing Week

by | Sep 16, 2022 | Market Updates

The major indexes are down as Wall Street heads for a big losing week — and more in Friday’s stock market recap.

Following hotter-than-expected inflation data and a lukewarm retail sales report, investors are now grappling with an ugly warning from FedEx Corp. (NYSE: FDX)…

FedEx withdrew its full-year guidance and made plans to cut costs amid a soft global shipping environment.

CEO Raj Subramaniam also warned of a “worldwide recession,” which is bad news for the stock market, also sending the transport company down over 20%.

In this morning’s stock market recap video, I’ll reveal the key levels for the Nasdaq and S&P 500… an update on bonds and whether they’re stabilizing… what to expect from the market next… why the Communication Services sector is reaching support levels… the current action in the Real Estate sector… plus the No. 1 sector that’s deeply oversold!

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. Obscure Wall Street Phenomenon Handing Massive Overnight Gains

There’s an obscure Wall Street phenomenon that just a handful of insiders like Joy of the Trade’s Jeff Zananiri know about…

And it’s allowed traders with a regular brokerage account a near-daily opportunity to score massive gains…

Overnight!

All by entering ONLY at the market close…

And then closing the position the following morning.

Jeff is going live at 1 p.m. EDT on Friday, Sept. 16, to pull back the curtain on what he believes to be the most predictable Wall Street habit!

Sign Up for His Presentation 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. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 30,961.82.
  • Futures: 30,720.
  • Change: -350.

S&P 500 (mini)

  • Close: 3,901.35.
  • Futures: 3,871.25.
  • Change: -48.

NASDAQ (mini)

  • Close: 11,927.49.
  • Futures: 11,854.
  • Change: -153.5.

RUSSELL (mini)

  • Close: 1,825.23.
  • Futures: 1,805.6.
  • Change: -25.6.

Note: Updated as of 9:29 a.m. EDT

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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