U.S. stock futures are higher this morning despite Wall Street falling close to bear market territory one day earlier — and more in Friday's stock market recap.
I know I’ve been focused on the TLT all week, but it's for a good reason… Because if the bond market decides to go higher after choppy trading, it’ll show us it believes long-term interest rates are going to stabilize.
If that happens, it’ll be a positive sign for the price of stocks…
In terms of the put/call ratio, it has moved higher to the 1.21 level on Friday, which still tells me the market is grossly oversold and near a turning point. That’s because the put/call ratio is a mean-reversion indicator. In other words, it tends to rise when the number of call buyers gets too low, and fall when the number of put buyers is too high.
In this morning’s stock market recap video, I’ll show you the key factor driving the market right now… where there’s major support and why… an update on volatility and how it’s reacting to the recent sell-off… why market sentiment is favoring the bulls… a full sector analysis update… and what trading action to expect next week.
*Past performance is not indicative of any future results. Trade at your own risk. From Feb. 25, 2022, through May 4, 2022, five winning positions were issued while four remain open. The average rate of return was 38.33% over a seven-day hold time.
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