Hey, Ross here:
Before I dive a little into what yesterday’s higher-than-expected inflation numbers could mean, here’s your actionable trade idea of the day.
Chart of the Day
Expro Group (XPRO) is an oil and gas field services stock specializing in well construction and flow management.
In the weekly chart above, you can see a clear breakout pattern as the stock emerges into a new Stage 2 uptrend.
The stock broke out this week and held up well, despite a selloff in the indexes.
As long as XPRO stock holds above $19, it looks good for a push higher.
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
The market is appearing to absorb the inflation numbers very well – which is a sign that this bull market is resilient.
There’s no sugarcoating it – yesterday’s inflation data came in hotter than expected. Combine this with the strong jobs market, and you would expect the markets to have a decidedly negative reaction to the inflation reading.
But that’s not what happened. The S&P 500 closed pretty much flat. The Dow fell less than half a point. And the NASDAQ actually closed higher.
So far, it seems the market has absorbed even these hotter-than-expected inflation numbers much better than expected. This just lends further support to what I still believe is a new bull market.
Plus, my systems are still showing me long opportunities cropping up everywhere. As always, I’ll be sharing some of them right here.
But if you want opportunities that could see you profiting right alongside the biggest investors in the world – make sure you check this out. Because of the sheer amount of money they can pour into a single stock, they can send them surging in a matter of days.
Embrace the surge,
Ross Givens
