At 1 p.m. EDT on Wednesday, Aug. 10, Roger Scott is going live to reveal his No. 1 Frontrunner Stock for the rest of 2022…
Not only that, but he’ll also discuss the core factors behind what he calls “Frontrunner Stocks,” how to build your own custom ETF, portfolio management and more.
He’ll even go into great detail on the formula used to backtest the Frontrunner Portfolio, and share the results!
Trying to make sense of bear market rallies is like trying to explain U.S. foreign policy to a fourth grader — and I’ve been struggling to do both! At a certain point, you just throw your hands up in the air and scream… “Because that’s just how it works!”
I’m still in the camp that sees recent price action as nothing more than a bear market rally in 2022, not a regime change back to a bullish tape.
This week, we’ll shift back from a focus on jobs and earnings to the dreaded inflation gauge, the Consumer Price Index. Last week, there was a lot of thrashing around and markets ended up mostly unchanged with the S&P 500 up just 0.64%.
Underneath the surface, the action was anything but…
We saw the apes return to AMC and GameStop, huge takes in semiconductor stocks on the back of the pork-filled “inflation reduction” bill, and more selling in oil.
After a massive bullish move in July, it’s normal for the market to digest those gains and consolidate sideways for a while. But at some point, the sellers will come back as they sense the rally is exhausted. I see a few potential catalysts as you’ll read in this week’s Wall Street look ahead…
The markets are up to start the week as Wall Street awaits the latest Consumer Price Index inflation data.
The S&P 500 locked in its third straight winning week following a strong jobs report. The Nasdaq also posted a win for the week.
Economists expect Wednesday’s CPI to show a slight slowdown in inflation, but we could still be in for a volatile week as the markets await and then digest the newest number.
In earnings season news, software company Palantir beat on revenue estimates but missed on earnings, reporting a loss of $0.01 per share versus an expected gain of $0.03, sending it tumbling more than 15% in premarket trading.
Beef and poultry producer Tyson Foods beat on revenue but missed on earnings as beef demand remained high while chicken volume dropped, sending shares 2.5% lower in premarket trading.
The Average True Range (ATR) is a technical indicator that measures volatility by decomposing the entire range of an asset price for a set period. Simply put, a stock experiencing a high level of volatility has a higher ATR, and a low-volatility stock has a lower ATR. The ATR may be used by traders to enter and exit trades, and it is a useful tool to add to a trading system. It was created to allow traders to more accurately measure the daily volatility of an asset by using simple calculations. The indicator does not give the price direction — rather, it is used primarily to measure volatility.
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