I did everything I could to beat the war drums and shout from the hilltops that growth and junk stocks were poised for a bounce…
Even with Friday’s run up, the S&P 500 took the worst thumping it’s seen since the pandemic hit in 2020, dropping almost 6% while the tech-heavy Nasdaq fell almost 5% for the week.
When you see a strong move down like that, you’ll often see a big bounce like we did Tuesday…
And it shouldn’t be any surprise that tech names were leading the way up!
I hope you took advantage of Tuesday’s junk stock bounce because our New Money Crew strategies did just that…
In fact, it’s one of the best weekends Wiretap Alerts has ever seen!
U.S. stock futures traded lower Wednesday morning ahead of Federal Reserve Chair Jerome Powell’s speech.
This means everyone’s eyes were on the TLT, which is still trading choppy and having a hard time going lower. If the bond market remains in this trading range, it’ll signify that it’s done declining and the worst downward pressure is already priced into the market.
Even though stocks are down, volatility via the VIX, or fear gauge, didn’t make a lower low…
So as long as the VIX doesn’t break its recent high at the 37 level, then I’ll continue to believe that volatility will subside as the broader market gains strength.
P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.
That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!
Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.
Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details.
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