The markets moved higher, looking to break back-to-back losing sessions — and more in Wednesday’s stock market recap.
Wall Street seemed unnerved by House Speaker Nancy Pelosi’s Tuesday visit to Taiwan, a self-governed island China claims as a territory, worried it could further strain the already tense relations between Beijing and Washington. But following her departure, the major indexes appeared to rebound.
Earnings season continues, with Advanced Micro Devices, PayPal and Starbucks all beating analysts’ estimates on both earnings per share and revenue.
AMD’s third-quarter revenue forecast came up short, causing the stock to slide 6% lower in premarket trading.
Meanwhile, Starbucks interim CEO Howard Schultz indicated customers aren’t pulling back on their spending despite inflation, causing shares to rise nearly 2% in premarket trading.
In this morning’s stock market recap video, I’ll reveal how low bonds will go…which sectors to fade right now… the weakest sector and stock… the strongest sector and stock… whether energy is coming back… plus a full update on earnings and what it means for your portfolio.
Pattern Trader members had the ability this past Friday to lock in their biggest win yet — a 36% gain** on COF in just two days! That’s right on par with our average hold time of three days per trade…
That makes a total portfolio gain of 188%, with an average return of 17.1% per trade — what a hot streak!
And it was all possible with the power of today’s state-of-the-art algos at the tip of your fingers…
Pattern Trader members know the historic win rate, profit factor and equity curve of the trades before they even get in!
Wall Street gave us a lot to digest last week, but since this week will be more subdued in terms of data, the market will have a chance to stand on its own.
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time.
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