I’m back – Jeff, that is. It looks like I picked a good time to go on vacation and move primarily to cash. Every time I turned my phone on, the market was down. I was still able to put on a few profitable trades using a strategy I’ll be sharing at this year’s Millionaire’s Trading Conference. I was out of the country, turned my phone on for a few minutes, placed some trades and that was it. More on that later. The good news is that the current oversold conditions are pointing to a potential rebound.
The only thing is that I’m not expecting another double digital rally that we saw mid-summer this time.
If you follow market seasonality, I warned you about September historically being a rough time for the markets. Seasonality shows we have another two weeks or so of weakness before we head into several weeks of strength, so I’ll have a few ideas over the coming days to get you ready if we do see a bit of a bounce.
For now, let’s get ready for the week ahead.
Here are the reports coming out this week that have the greatest chance of moving the markets.
Monday – Manufacturing Index – We are expecting to see modest growth compared to last month and while that seems like it would be good, remember the Fed is looking for a recession to fix inflation so change, in this case, may not be good after all.
Wednesday – International Trade – With a strong dollar we are expecting to see imports shrink and for the trade deficit to narrow for a fifth straight month.
Thursday – Jobless Claims – The four-week moving average is down to 207k and the consensus this week is about 203k, up from last week’s 193k. Last week’s numbers were much lower than expected and the recession conversation will come back up once the four-week average is above 300k. Remember, the good news is bad here. Higher jobless claims mean a softening job market, which can help bring inflation down.
Friday – Employment Situation – The unemployment rate is still set to be about 3.7% with a 62.4% participation rate. Month-over-month average earnings are set to be flat, but year-over-year is showing a slight decline from last month’s 5.2% reading. Nonfarm Payrolls are expected to be lower than last month, but last month was higher than expected. August was the fifth straight month that payroll growth exceeded expectations. What all of this means is that the job market has some weakness in pockets, but overall is still strong for now.
If you haven’t heard, I’ll be a guest speaker at this year’s Millionaire’s Trading Club Conference in Las Vegas. I’ll be presenting a strategy that you will be able to start using right away (although I recommend you paper trade it first) to potentially make 25% in as little as four days. It’s the same strategy that I used while on vacation because it only takes a few clicks to set up and it only looks at one ticker. I hope you’re one of the ones going to the event in person or virtually.
Ok, that’s it for today.
If you have any questions, comments, or anything we can help with, reach us at any time.
Email: [email protected]
Phone: (866) 257-3008
Guest Writer, Filthy Rich, Dirt Poor
Editor, Wealthy Investor Society
February 7th, 2023Is The Stock Market Cycle Pointing To A New Bull Market Already?Are we in another bear market rally or the start of something new? That’s what everyone wants to know, especially as we
February 6th, 2023Job Creation Shocks The MarketIf we’re heading into a recession, how were we met with better-than-expected job growth numbers last week? Unemployment dropped, despite the headlines of tech companies planning to lay off
February 3rd, 2023Job Cuts And Stock Buybacks Keys To Success In 2023 The thing I’ve learned from this earnings season is that a company can have consecutive quarterly drops in revenue and provide a lower
February 2nd, 2023Fed Raises Rates But Bulls Are Still In ControlOk, bulls. You win. I will start lifting my bearish stance on the market. Despite the final 10-minute market sell-off and a Dow that finished
February 1st, 2023What Past Fed Announcements Tell Us The Market Will Do TodayWatch out - this article is going to have some math.Here we are once again on Fed Announcement day. Most of the folks
January 31st, 2022The Hidden Profits Of 2023There is still one more trading day left in January, but if the adage “as the S&P 500 goes in January, so goes the year” holds true, the markets
January 30th, 2022 The Fed Goes Up Against Earnings This Week We are in peak earnings season with some heavy hitters like Pfizer (PFE), Snap (SNAP), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), and Apple
January 17th, 2022Smoother Sailing in 2023 Nothing has changed since the end of 2022, yet traders have already decided that this year won’t be as bad as the last. Bulls have been piling into stocks
January 12, 2023 The Rise Of Bing Over Google - That’s No Joke Before we talk about two tech giants getting ready to battle it out once again, let’s look at the overall market. The
January 9th, 2022 Why I Ignore Most Of The News It’s easy to get caught up in the financial headlines. I’ve certainly done it. Last week shows why I ignore most day-to-day stories. I know
267 Kentlands Blvd #225
Gaithersburg, MD 20878
P. (866) 257-3008
(Monday-Friday 9:00 AM-5:00 PM EST)
Publisher of actionable and proven strategies and tactics to help investors build wealth and reach seven-figure portfolios.
Get notified about new articles, special events, training, and much more
Leave your info below to get more options and trading ideas to your inbox
Yes, send me news to my inbox.