Home » How Not to be Average (Plus Fascinating Price Action Data)

How Not to be Average (Plus Fascinating Price Action Data)

Published February 17, 2023

Hey, Ross here:

It’s the last trading day of the week. And while markets did take a rather sharp dip yesterday, take a look at the below chart.

Chart of the Day

This is the chart of the S&P 500 in 2023. And as you can see, starting January 20, it has always closed over its 200-day moving average (the red line).

This is even when accounting for yesterday’s decline and the pullbacks over the past couple weeks. That’s 19 sessions of it closing above the 200-day moving average.

And an analysis has shown that, since 1950, after a more than 20% decline (aka a bear market), the S&P 500 has NEVER made a new low following more than 18 consecutive closes above the 200-day moving average.

Does this mean the S&P 500 is guaranteed to not make a new low this time? Of course not, there’s no such thing as guarantees in this game. But before we succumb to all the doom and gloom, it’s worth looking at what the price action is telling us.

P.S. If you want special trade prospects and potential market moves sent directly to your phone from me – just text the word ross to 74121.

Insight of the Day

Always remember that the indexes only represent averages.

Everyone looks to the indexes to gauge the overall direction of the market. But regardless of which direction they’re moving in, it’s critical to remember that the indexes only represent averages.

If you’re reading this, chances are you’re not some passive investor who just blindly dumps money into index funds every month. You’re a trader who’s not content to simply accept the market’s average returns.

That’s why the most important thing to pay attention to is what the price action in individual stocks is telling you. Because ultimately, that’s how you’re going to beat the market.

And right now, the price action is telling me that there’s still plenty of opportunities out there right now.
I spotlight those opportunities every week on this very newsletter. But if you want to get access to the fattest, juiciest opportunities that I’m seeing – make sure you look at this.

Embrace the surge,

Ross Givens

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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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