Hey, Ross here:
Another day, another new high.
Could we see a pullback soon?
Let’s look at the evidence below.
Chart of the Day
Today’s chart shows the number of days the S&P 500 has been above its 20-day moving average – a sign of its short-term direction – over the past 20 years.
This chart is a couple days old, so the S&P 500 has actually been above its 20-day moving average for 53 days in a row now.
As you can see, that puts it up there with some of the longest streaks over the past two decades – most of which was spent in a solid bull market.
Streaks like these are a clear sign of market strength.
But… looking at history, the rally does look a little overextended in the short term.
So I wouldn’t be surprised if we see a (healthy) pullback very soon.
And you shouldn’t be either.
P.S Want to make sure you never miss analysis like this? Just text the word “trade” to 87858 and get this newsletter delivered straight to your phone.
Insight of the Day
You can build an entire trading strategy out of buying into healthy pullbacks
There are entire groups of traders out there whose entire strategy is buying into short-term pullbacks and waiting for the bounce.
That alone is enough for them to do very well…
And that’s why I talk about it so often.
If you know how to spot a healthy pullback – such as one where the 20-day moving average still holds up as support…
You already have an advantage over most traders out there.
But there’s another group of traders out there who reliably seem to buy stocks at the bottom instead.
Not healthy pullbacks – but actual bottoms.
This group is the corporate insiders…
High-ranking executives blatantly exploiting their insider knowledge to snap up the stocks of their own companies on the cheap…
Knowing that there’ll be big market-moving catalysts coming down the pipeline.
Unfair? Yes. Scarily effective? Also yes.
That’s why following the insiders is one of the most powerful trading strategies you can have.
And that’s why in just a few hours at 11 a.m. Eastern later this morning…
I’m going LIVE to demo this insider strategy in person…
So you can target the kind of insider moves that could lead to gains like 771% in 2 months… 157% in 2 weeks… and 321% in 2 days.
I’ll show you exactly what to look for when insiders buy – as well as what to actively avoid.
Click here to guarantee your seat for my live demo if you haven’t already…
And I’ll see you in just a bit at 11 a.m. ET sharp. I recommend joining the session a bit early so you don’t risk getting locked out.
P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
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Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
