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 Joy of the Trade’s Jeff Zananiri and I spent an 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 Jeff’s 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 he’s 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.
Jeff recently checked his bank charges under $50 and he noticed that his Netflix membership jumped to $19 a month… He had no idea when this even happened!
So when Jeff started lining up his other monthly streaming services and looked at the prices and viewing options — Disney+, Hulu and Amazon Prime — he started to think Netflix isn’t worth it…
And he has a feeling investors might begin to feel the same way soon.
Do you know what’s coming our way?
Check out our 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.
And don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. I woke up feeling extra generous today because certain trades have been red hot lately, and I want everyone to get in on them ASAP…
In the past few months, using my newest trading suite, Overdrive Profits, I’ve led traders to gains like 35.29%… 57.14%… even 84.38%…
In a matter of days!
And as a bonus, traders will get to dabble in “dark pool trades” that even seasoned pros know nothing about. But don’t worry, I will be there every step of the way if things get too dark.