It’s no big secret that the stock market went completely berserk on us this past week…
The Federal Reserve, whether it realizes it or not, has put everyone between a rock and a hard place because things are so much more expensive, which is causing an actual problem for the economy.
But once the Fed actually started to talk about it this week, stocks began to puke in a way we haven’t seen in a long time…
So for the most recent WealthPress Live Roundtable, Joy of the Trade’s Jeff Zananiri and New Money Crew’s Lance Ippolito decided to join me in person to discuss what traders should make out of all of this noise.
We also used this time to drill deep into things like what traders need to know before certain companies report earnings… if market momentum will continue into correction territory… and how tensions in Eastern Europe are impacting Wall Street.
The major indices were mostly down again on Friday as Wall Street’s worst sell-off since March 2020 continued.
Dow futures swung from a 250-point gain overnight to a 100-point hole amid volatility. Right now, it’s hovering near its 200-day moving average. If it can rise above this point of support, things should start to look up.
A lot of investors thought the Dow would hold up better due to strong earnings from Apple after the bell Thursday.
The tech giant reported better-than-expected quarterly earnings of $2.10 per share compared to estimates of $1.89, representing an earnings surprise of 11.11%.
Apple was up 2.5% in premarket trading.
In this stock market recap video, you’ll discover whether Apple’s earnings are strong enough to move the markets… why I believe the market is close to bottoming out… key levels on the S&P 500 and Nasdaq… an update on volatility levels and Federal Reserve data… and two profitable closed trades from this week's action.
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!
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