Folks, markets move in two waves… horizontally and vertically. The four stocks I’m targeting today are all making horizontal movements, new highs or pulling back to their 50-day moving averages — and more in Thursday’s stock market recap.
The first stock I’ll discuss has been on an absolute tear and is up nearly 50% over the past three months.
But first…
Stock Market Recap
In today’s stock market recap, global shares are mostly higher after corporate earnings, which so far suggest that our economy is moving in the right direction. Consumer spending continues to heat up while communication and utility stocks are on the decline.
The Russell 2000 has taken a pause and is sitting on its 50-day moving average. The index is however leading the broader market, and I expect it to start rising again. It is not as overbought as either the S&P 500 or the Nasdaq.
I’m interested in seeing what happens in global markets as the U.S. economy and COVID-19 response continues doing well — while places like India, Japan and South America fight a lingering pandemic. This could increase the inflow into the U.S. stock market for the foreseeable future.
Roger’s Radar: 4 Stocks Ready To Make Big Moves
Gap Inc. (NYSE: GPS) had been on a tear until late March when it cooled off a bit. It’s now near all-time swing highs and looks like it will continue this year’s upward trend.
Gap of course is an apparel retail company that operates around 3,100 stores in addition to 615 franchises around the world. As we go into the summer and economies start to rebound, consumers will start spending more money. And retail stocks are set to ride the economy back up.
Two of the other stocks we’ll discuss in today’s video are in the industrial machinery and equipment industry. The fourth stock is a well-known multinational e-commerce company that posted $10.27 billion in revenue last year. All three of these stocks have pulled back and are set to explode.
In today’s video, I’ll go over the biggest Fed report for today… the earnings threshold stocks are targeting… whether bonds will rise or fall in the near term… and my top 4 pullback stocks to focus on right now.
