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Could This Pullback be Over Soon?

Published April 19, 2024

Hey, Ross here:

Yesterday’s lower close means the S&P 500 just closed lower for the fifth straight day – its longest losing streak since October last year.

Today’s chart shows how that is reflected in investor sentiment.

Chart of the Day

This is CNN’s Fear and Greed Index in chart form.

It’s not perfect by any means – but it’s still useful.

Right now, the reading is at 34, which is “fear”.

And we’re getting very close to the readings we saw toward the end of the pullback last year – even though it’s only been a couple of weeks since the market started pulling back.

I explain what this tells me in the Insight of the Day.

Insight of the Day

The rapid change in market sentiment could indicate this pullback will be over faster than most expect.

When did the October pullback turn into the November rally? When market sentiment was at its lowest (you can clearly see it in the above chart).

That means we want to see market sentiment quickly dipping – like it is now…

Because it could signal that this pullback will be over faster than most expect.

But that also means that if you want to take advantage of the post-pullback rebound…

You need to get in position now.

Earlier this morning, I went live for a masterclass that would have allowed you to target the stocks best-positioned for a strong and fast rebound.

So, if you missed it, make sure you click here to watch the replay now…

Or click this link to schedule a call with one of our friendly Education Specialists to see how this strategy can work for you.

Before the weekend hits, put yourself in a position to win.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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