It’s probably no surprise that tech and consumer staples stocks are ruling the market...
But if you look under the hood, you’ll notice that the put/call ratio continues to make lower lows, which tells me the Consumer Discretionary sector will pull back in favor of the broader stock market.
In fact, most of the drama surrounding earnings and chip stocks is already priced into the market.
That’s why I’m giving away the top-performing consumer staples stocks that you need to know about now...
The last full trading day of the week, the Nasdaq is pulling back amid a slew of reports — and more in Wednesday’s stock market recap.
The markets are closed on Thursday for the Thanksgiving holiday, and are only open for a half day on Friday.
The Nasdaq is pulling back again, which I’ve been saying is going to happen for some time now. One reason being that tech stocks have simply flown too high, too fast. Tech stocks are also naturally more vulnerable to higher interest rates.
Federal Reserve Chair Jerome Powell has been hawkish in terms of raising rates, and the markets are reacting accordingly with him being renominated.
It’s a busy day in terms of reports with gross domestic product, international trade in goods and services, and durable goods being the most important data coming. But we’ll also have new home sales, consumer sentiment, jobless claims — which came in at their lowest level in 52 years — and personal income reports.
In this stock market recap video, you’ll discover why tech is selling off... which Fed report to pay the most attention to right now… whether market internals are bullish or bearish... the most probable move from the bond market... a long trade set up with high reward potential… a short trade set up with high profit potential… and an update on the global economy and how it's impacting the oil market.
I do a ton of sector analysis and use back-tested, proven strategies to beat the market. I use proprietary formulas based on relative strength to track the top 5 strongest stocks… You know, the ones I send you in my new weekly watchlist. But now I want to know which stocks you’d like to see rankings for! All you have to do is reply directly to this email with your tickers!
The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information.
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