U.S. stock futures are down this morning as investors wait for the Federal Reserve to release the minutes from its latest policy meeting earlier this month — and more in Wednesday's stock market recap.
If you look at the IWM, you’ll notice that it’s starting to diverge away from the broader market. While some of the other major indexes trade near lower lows, the IWM maintained its composure and its lows are getting higher.
The put/call ratio — now at 1.01 — remains inflated to the put side, which means the markets are deeply oversold.
The market is mean reverting, so it can only stay at these current levels for so long. When the rubber band snaps, we’re going to see a bull rally like we’ve never seen before.
In this morning’s stock market recap video, I’ll show you which sectors are picking up steam and which are falling behind… the biggest Fed report to watch out for… an update on the bond market and volatility levels… two actionable long trade ideas… and one short trade idea.
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