There’s only so much an investor can do to project how the rest of this year will look on Wall Street… Maybe that’s why WealthPress Senior Strategist Roger Scott and I spent the afternoon analyzing and discussing our stock market outlook for the rest of 2021.
And from what we uncovered, some things aren’t looking so pretty…
But before we dive into the bad, let’s discuss the good signs we’re seeing from the market right now: earnings.
The market has been selling off these past couple of days even with strong earnings, and even the banks didn’t disappoint us.
So you might be wondering why those same stocks are getting smashed now.
Citigroup Inc. (NYSE: C) — a trade from my Burn Notice service— for instance, had a tremendous report and began gapping up after being down for nearly a week.
But after making a new high, the stock immediately had an intraday key reversal.
For those unfamiliar with this concept, a key reversal is an important technical indicator for many investors. This happens when a stock has been trending and makes a new high… but then closes near the previous day’s lows.
All within the same day.
And I’m starting to see reversals like this all over the news, and in different sectors in the market.
Not even FAANG stocks appear safe from this…
Have you noticed that we’re paying more and more for our Netflix Inc. (Nasdaq: NFLX) subscriptions… for what seems like less services?
And let’s ignore for a moment Tuesday’s smack down after announcing its quarterly report — resulting in a 10% decline in share price.
I recently checked my bank charges under $50 and I noticed that my Netflix membership jumped to $19 a month… I had no idea when this even happened!
So when I start lining up my other monthly streaming services and look at the prices and viewing options — Disney+, Hulu and Amazon Prime — I’m starting to think Netflix isn’t worth it…
And I have a feeling investors might begin to feel the same way soon.
Do you know what’s coming our way?
Check out my short video below to learn more about our stock market outlook for the rest of 2021 . Be sure to share your thoughts in the comments section below.
P.S. I’m pulling back the curtain on a new trading method that only requires attention in the stock market right before it closes.
You see, from the time the market opens until about 3 p.m. EDT, Wall Street has the upper hand. But once 3 o’clock rolls around, the big funds on Wall Street start bleeding cash… which sends certain stocks crashing lower.
Take advantage of these cash bleeds during Wall Street’s weakest hour, and possibly make huge returns the next morning when the market opens up again.