Home » Good News Amid the Final Leg Down

Good News Amid the Final Leg Down

Published October 19, 2023

Hey, Ross here:

One of the best ways to gauge the health of the market is by looking at the market leaders.

And the undisputed market leader of 2023 – Nvidia – is showing that the final leg down for the market may soon be here.

Chart of the Day

This is NVDA forming what appears to be a classic “head and shoulders” pattern over the past few months.

This is a bearish pattern, and the continuation of this pattern should see NVDA falling below the pattern’s “neckline” (the white horizontal line on the chart).

A few weeks ago, I recommended going short on NVDA at about the $440 mark.

Its price has now fallen to $422 after “gapping down” yesterday.

And if the head-and-shoulders pattern plays out fully, it should fall below $400.

We could be entering the final leg down for the markets.

But there’s still good news – earnings season.

Insight of the Day

Earnings season provides us with opportunities to profit no matter where the market is heading.

We all know the rules of earnings season – buy stocks no one expects to beat expectations, and short stocks that are going to underperform expectations.

This works no matter what the broader market is doing.

But although it’s simple in concept, it’s difficult in practice.

Because it relies on having an informational edge over others – and that’s not easy to find.

Fortunately, we can look at a special class of investors who do have this informational advantage – corporate insiders…

The higher-ups who are buying and selling stock in their own companies – companies they know A LOT about.

If we can track their trades – and filter it down to those that give us the highest indication of a company’s actual prospects…

We could make a killing no matter the market.

After years of trial-and-error, I developed just such a strategy – and it’s been going very well.

So, instead of pointlessly worrying about the market downturn…

Take advantage of the opportunities inherent in earnings season instead…

And click here to start using my “insider” strategy now.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

Stocks within Article - NVDA

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Ross Givens

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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