Hey, Ross here:
I hope y’all had a great long weekend. And even though markets ended up down last week, today’s chart should bring you some comfort.
Chart of the Day
Although markets have pulled back slightly over the last 2 weeks, we have not lost any significant ground in the uptrend. Notice how the S&P 500 has held at its 21-day moving average Friday on above-average volume.
The real test will be whether we can avoid any major distribution in February. We want to see the SPY hold above the 400 level with no big down days on significant selling volume.
As long as that doesn’t happen, bulls are in charge, the bull market is intact – and this has been nothing more than typical digestion after a strong move up.
I continue to focus on the highest relative strength names to gauge market health. And I’ll be sharing those high-potential names with you right here over the rest of the week – so stay tuned.
P.S. If you want special trade prospects and potential market moves sent directly to your phone from me – just text the word ross to 74121.
Insight of the Day
The Fed may have the power to crush this bull market – but you still have room to profit “between the gaps”.
As you just read above, I’m still very much bullish on this market. But I’m not naive – if the Fed delivers a whopper of a hike next month, I know it could put an end to it all.
And with the latest inflation data coming in hotter than expected, many pundits are worried about the Fed’s next move.
But here’s the good news. Regardless of what the Fed does next, you still have room to profit “between the gaps” – in the space between their major policy moves.
You can’t do this if you’re a passive investor holding on for the long term. But if you’re a nimble trader who knows how to ride the current trends, you can still make fast profits even amid all this uncertainty.
I’ve been showing you ways to do that right here on this very newsletter. But if you want to really get serious about making money in this market – then make sure you check this out.
It’s a way to identify when the big institutions could be about to pour money into individual stocks – and exploit it accordingly to target explosive gains.
Embrace the surge,
Ross Givens
