Hey, Ross here:
Markets are pulling back slightly – just as I expected. Here’s what I got for you today.
Chart of the Day
Just like yesterday, I’m showcasing some entry setups my #1 MVP Pattern is spotting to give you an idea of how it works.
DermTech (DMTK) stock surged over 300% in just 28 days in Phase 1 of this MVP pattern.
It is finally taking a rest to digest the huge surge of buying. This has formed Phase 2 of the pattern.
My entry trigger will be a break of the white downtrend line on the chart. A move above this resistance level will likely lead to a rapid move higher.
P.S. If you want to learn more about this pattern, I’m holding a live webinar TODAY at 12 p.m. Eastern – just a couple hours after you receive this email. Click here now to save your seat while there’s still time.
P.P.S. If you want special trade prospects and potential market moves sent directly to your phone – so you don’t miss out on anything – just text the word ross to 74121.
Insight of the Day
Powell still has an iron grip on the markets.
Fed Chair Powell makes a speech at noon today. With Friday’s blockbuster jobs report coming just a couple days after the Fed hiked rates by “only” 25 points last week, markets are worried that Powell will indicate that the Fed hasn’t been doing enough.
This just goes to show how much power the Fed still wields over the market – despite the recent rally. While the evidence still tells me we’re in the beginnings of a new bull market, it’s important to remind ourselves of just how easily the Fed could kill it if they wanted to.
The good news is that the Fed is still targeting a “soft landing” scenario – bringing down inflation without causing a recession. The strong jobs report coupled with falling inflation numbers shows that what was once considered fantasy has become a real possibility.
We’ll see what Powell has to say – and how the markets react after.
But in the meantime, don’t forget that “breakout” opportunities are cropping up all the time. And this strategy is a great way for you to capitalize on them.
Embrace the surge,
Ross Givens
