Friday Market Update - Labor Day Recession Fun

This is your Friday Market Update. Get a breakdown of what we're seeing in the market from a technical perspective.

You are receiving this email because you signed up to receive emails from True Market Insiders, rebranding to Sector Edge. Unsubscribe here Keep the emails you value from falling into your spam folder. Whitelist True Market Insiders. Forgot your login information? Click here. Weekly Market Update Today is September 2, 2022   Hi again and Happy Friday! And Happy Labor Day!   Doesn't a three-day weekend sound delicious? I can hear the sirloin sizzling on my grill already!   Last Friday, August 26, 2nd quarter Gross Domestic Product (GDP) was released. GDP decreased at an annual rate of -0.6% in Q2 following the -1.6% decrease we saw in Q1.   Two consecutive quarters of declining GDP "officially" puts us in a recession.   Bill Spencer Editor-In-Chief True Market Insiders   So, let me say it again. Happy Friday! Happy three-day weekend!   Honestly, from a trading perspective, I don't care that we're "officially" in a recession.   As my good friend and colleague Chris Rowe always says, "Markets fall three times faster than they go up."   There is a lot of money to be made when the market is trending down. And we'll find plenty of short-term bull rallies to trade as well during our recessionary economic period.   That said, the market did get beat up a little more since my most recent update.     And yesterday we saw the "granddaddy of all technical indicators," the NYSE BPI, flip to a falling column of O's.     More than 56% of NYSE stocks are on point-and-figure Sell signals now. You can get my full NYSE BPI update on the recent column flip to O's by clicking here.   We also saw the Russell 2000 BPI flip to a falling column of O's this week.     More than 61% of the small-cap stocks represented by the Russell 2000 are on point-and-figure Sell signals.   It's really hard to question whether the bear has returned at this point.   Sector Prophets, our premium sector research and data platform, generated over 100 trade alerts last week, all but three of them bearish. That should tell you something.   A trader should get excited during moments like this. Because (let's be honest), whether or not we should, all of us traders do yearn for quick, big gains.   Well, this market is as good an opportunity as you'll find.   And with a tool like Sector Prophets, you're armed to quickly act on trades using the sector relative strength analysis we teach here at True Market Insiders.   So, in celebration of Labor Day, a much needed three-day weekend, and the aroma of searing steak, we're offering a BOGO on Sector Prophets! This is the first time I've ever seen us do this. But we want to arm you with all the tools you need to tackle this volatile market.   I'd take advantage of it while you can. Click here.   Thanks for reading, and enjoy an amazing three-day Labor Day weekend!   Copyright © 2022 True Market Insiders, All rights reserved. Our mailing address is: 7901 4th St. N STE 6113 St. Petersburg, FL 33702 Want to change how you receive these emails? 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