Hey, Ross here:
Welcome to the start of October and the fourth quarter of the year.
With nine full months behind us, it’s time to lift up the hood and look at what’s really happened in the 2023 “bull market”.
Chart of the Day
This chart says it all.
The vast majority of the gains posted by the S&P 500 this year has come from the “Magnificent 7” stocks – Nvidia, Meta, Amazon, Microsoft, Apple, Alphabet, and Tesla.
The other 493 stocks? Not so much.
In fact, a mere 37.5% of stocks are trading above their 200-day moving average…
Meaning 62.5% of stocks are currently in longer-term downtrends.
What does this all mean?
I explain more in the Insight of the Day below.
Insight of the Day
More short-term pain – followed by longer-term gain – is what I see ahead.
Once pessimism sets in… once everyone is bearish and bracing for another bear market…
That is when stocks will begin to rise – catching everyone off guard as it always does.
It’s still a little early for that now. It’ll be soon – but not just yet.
Tomorrow, I’ll show you exactly what I mean – so keep a lookout for that.
In the meantime, it’s still possible to take advantage of the gyrating markets by targeting short-term institutional trends in individual stocks…
Regardless of whether they’re moving up or down.
If that sounds interesting to you – click here to find out how you can start doing that right now.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
