U.S. stock futures are down yet again this morning, but there are many signs telling me the market bottom is near — and more in Thursday's stock market recap.
The put/call ratio is at 1.19, which is huge because we haven’t gone to these levels in quite some time. I mean, the last time we were trading around these levels was the COVID-19 crash of 2020, so don’t say this lightly.
If you turn your attention to the DIA, you’ll notice it’s sitting right at its previous lows and starting to bottom out. And if you look at its average true range, which measures volatility, you’ll see that it’s peaking out.
This tells me that the market’s downside pressure was too much too fast, which means there’s a great chance stocks will experience a big bounce.
In this morning’s stock market recap video, I’ll show you why I believe stocks are oversold… which sector is set to rise… an update on earnings and expectations for retail stocks… why the bond market is so choppy right now… a deep look into market internals and the current divergence… and whether volatility is peaking or not.
So I decided to put together a “meat and potatoes” training class to cover everything people need to know about the key indicator I’ve found, and why I’m so happy about the current economy's trajectory.
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