Hey, Ross here:
Yesterday’s market dip wiped out all the gains the market made from the past week.
From a technical perspective though, this isn’t surprising at all.
With the market having broken out to new all-time highs after recovering from the pullback, it’s perfectly normal to see a dip like yesterday’s.
What we want to see now is how long the support level formed by the March highs holds up.
But even if this support level fails, all it likely means is that we may just see more sideways action for a while longer.
Don’t panic.
Insight of the Day
This kind of price action is precisely what’s needed for the market to go higher
Stocks don’t just straight up…
And the market doesn’t just blast out of a pullback with no resistance.
Yet, there are always those who believe that’s how the market works…
And those are the people that this kind of price action is perfectly designed to flush out.
In fact, these are the types of traders that need to be shaken out for the market to go higher.
That’s why I’m not worried.
In fact, this kind of price action is actually an opportunity for us to position ourselves in leading stocks before they launch higher.
That’s what my Stealth Trades strategy is designed to do…
Because the big institutional money is actually the fuel that will send these stocks higher…
And my strategy is all about scanning for their tell-tale footprints so you can position yourself alongside them.
And in honor of Memorial Day…
You can get full access to one year of my Stealth Trades strategy (plus all the bonuses) for just 99 cents.
Go ahead and grab it before the weekend hits.
Ross Givens
Editor, Stock Surge Daily
