Hey, Ross here:
It’s still too early to tell if we’re in a pullback or not.
And as today’s chart shows, this rally has been surprisingly resilient.
Chart of the Day
This is a chart of the 10-year US Treasury yield, which tends to be inversely correlated to stock prices.
Two things to pay attention to here.
First, as denoted by the white circle on the chart, is when Treasury yields first hit current levels while on the way up – the middle of August 2023.
If you recall, that was smack-dab in the middle of a market pullback that lasted three months.
That’s not the case with today’s markets.
Second is the fact that Treasury yields have been steadily rising since the end of December, which you can see by the parallel white lines on the chart.
But over that same period, the stock market has also been rising in tandem with Treasury yields, instead of falling.
These two things tell me that this rally is surprisingly resilient…
Which is a good thing because it means the next big leg up should be equally as strong too.
And of course, a resilient rally means lucrative opportunities we can target right now.
Insight of the Day
If a rally is strong, it means the market leaders are stronger.
When a rally is strong, you want to target the market leaders – because they’ll be stronger.
When we’re in a healthy pullback, you still want to target the market leaders – because you can snap them up for cheaper.
What you don’t want to do is wait for a “certain” market pullback to go after these market leaders – especially in a resilient rally like this one – because the opportunity costs are simply too high.
That’s why later today at 3 p.m. Eastern…
I’m going LIVE for a masterclass that will allow you to target market leaders on the verge of a breakout using a very precise and proven chart pattern.
My strategy based around this pattern could already have handed you gains like:
But with the market the way it is now, I believe gains like these are just the start.
So don’t delay…
Click here now to save your seat for my masterclass before registrations fill up…
And watch out for the login details in your inbox later this afternoon.
Let’s go after the market leaders together – see you there.
Ross Givens
Editor, Stock Surge Daily
