U.S. stock futures traded lower this morning after another major retailer, Target, warned that costs are rising — and more in Wednesday's stock market recap.
Shares of Target were down about 25% premarket after reporting earnings.
Believe it or not, but the TLT has been trading sideways for the past month. If we continue to see this or the bond market finally goes higher, there’s a good chance the worst of the inflationary pressure is behind us because interest rates and bonds have an inverse relationship.
The put/call ratio — now at 1.02 — still tells me that the market is oversold and needs to bounce…
Put buyers have been outpacing call buyers but typically when we see action like this, it shifts down. We haven’t seen the put/call ratio shift down since November, which is why I’m confident that stocks aren’t going to go much lower before they head higher.
In this morning’s stock market recap video, you’ll learn whether retail sales data is going to trigger a major rally… which sector is making headway once again… whether market internals are pointing higher or lower… why the bond market is becoming choppy… whether volatility will remain high or cool off… the top stock to buy right now… and the weakest stock to sell.
After a long, hard battle in some of the toughest stock market conditions we’ve had the past decade, I believe the white flag has finally been raised…
The worst has come and gone.
But if you’re standing around with your hands in your pockets and not sure what to do next… I want to help.
There’s one key market indicator that’s our saving grace right now, and I’ve decided to share everything it has to offer in my VIP Trade Room open house at 2 p.m. EDT on Wednesday, May 18!
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