Hey, Ross here:
The market is playing out almost exactly as I said it would.
And as today’s chart shows – investor sentiment is quickly following suit.
Chart of the Day
This is the level of bearish sentiment as surveyed by the American Association of Individual Investors (AAII) juxtaposed with the S&P 500.
Bearish sentiment is now the highest it’s been since the first week of May – with bears now outnumbering bulls by 14%.
And it’s risen by 8.6% over the past week, which is the highest single-week increase since February during the regional banking crisis.
I think there’s still more room for bearish sentiment to increase.
We’re not at the bottom yet – people are still a little too optimistic.
When I see the pivot point coming over the horizon, I’ll let you know about it right here on this newsletter.
Insight of the Day
While waiting for the market to bottom, don’t forget there are still opportunities up for grabs right now.
Earlier this month, Netflix jumped 16% after reporting earnings while Google just dropped 12% after doing the same.
And these are some of the largest companies out there right now…
So you can imagine the impact earnings can have on much smaller companies.
That’s why earnings season creates such lucrative opportunities – no matter what the broader market is doing.
And the people that know the most about a company’s earnings before they’re released to the public…
Are the high-level corporate insiders working at the company itself.
And by tracking the timing of their stock purchases and combining it with price action analysis…
We can determine the ideal stocks to position ourselves in to take full advantage of the earnings season opportunity.
This strategy could have allowed you to lock in a 22% gain in just three weeks this very month…
And it’s pinging me with all sorts of similar opportunities right now.
That’s why I’m going LIVE right now to show you how to start using this strategy to play this earnings season.
And let’s go after some fast gains while waiting for the market to bottom.
Embrace the surge,
Editor, Stock Surge Daily