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Examining the Evidence for a Pullback

Published April 15, 2024

Hey, Ross here:

So, are we in a pullback yet?

Let’s look at some evidence.

Chart of the Day

Today’s chart shows how, since late 2022, the Volatility Index (VIX) has generally been inversely correlated with the S&P 500.

As you can see, the VIX recently spiked – hitting a 5-month high.

This also coincided with April’s weaker market performance, with last week being the worst week in the markets since October 2023.

And yet – the S&P 500 is only about 2.5% down from its all-time high, and the Nasdaq is down even less, about 2%.

What could this all mean? Read the Insight of the Day to find out.

Insight of the Day

Any pullback we see is likely to be relatively shallow – giving us solid entry opportunities for the next leg higher.

All pullbacks feel painful – no matter how high the market is before they begin – and even if they’re relatively shallow.

So just prepare yourself.

But when we look at broad market breadth and longer-term market momentum combined economic resiliency and narrow credit spreads…

The highest likelihood is that any pullback will be relatively shallow – providing us with solid entry opportunities for the next leg higher.

But, we need to be even more discerning when it comes to entering trades during these periods.

That’s why tomorrow at 11 a.m. Eastern…

I’m going LIVE for a masterclass that will allow you to follow the insider money into stocks that could surge higher even if the market pulls back…

Because if the top insiders are buying – there’s always a very good reason.

So make sure you click here to save your spot for my masterclass…

And watch out for the login details in your inbox tomorrow morning.

See you then.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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