The major indexes are down as the Nasdaq heads for its eighth straight negative session — and more in Wednesday’s stock market recap.
Investors remain fearful the Federal Reserve will keep up its aggressive rate hikes, with most expecting a 0.75% hike this month. The CME FedWatch Tool rates the probability of a 0.75% hike at 82%.
The Fed has already indicated it has no plans to ease up on rate hikes as it looks to rein in the highest inflation in decades.
But we’ll get more information soon — Fed Vice Chair Lael Brainard is set to speak Wednesday, with Fed Chair Jerome Powell speaking Thursday.
In this morning’s stock market recap video, I’ll discuss a major shift in momentum levels… the potential for a big breakdown on a handful of stocks… why China can continue to weaken the economy… why volatility is not responding to the current move… the leading and lagging sectors I’m watching, plus the top sector to pay attention to with key levels.
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!
I just went live for the full reveal of my Pattern Trader strategy!
In a special training session, I shared the secret behind five critical patterns that have led us to a 100%* win streak since I launched Pattern Trader a few months ago!
Of course, not every trade will be a winner going forward… But so far, our average return is 18% in an average hold time of three days.
It’s a unique strategy that doesn’t use any sort of technical indicators or fundamental analysis — it is an entirely NEW way of trading.
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:
- Close: 31,145.3.
- Futures: 31,117.
- Change: -49.
S&P 500 (mini)
- Close: 3,908.19.
- Futures: 3,905.25.
- Change: -4.75.
- Close: 12,011.31.
- Futures: 12,023.5.
- Change: +4.5.
- Close: 1,792.32.
- Futures: 1,788.5.
- Change: -4.1.
Note: Updated as of 9:21 a.m. EDT
Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade ideas! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!
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 firstname.lastname@example.org!
- 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.
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From May 23, 2022 to Aug. 26, 2022, on live trades the win rate is 100%, the average return is 18.64% on the options over a three-day average hold time, and the total portfolio gain is 279%.