Hey, Ross here:
Let’s start the day by looking at a chart that shows why this new bull market has strong legs.
Chart of the Day
This is the equal-weight S&P 500 index – meaning all 500 stocks are weighted equally, not according to their market caps.
This index helps give us a picture of the breadth of the market, as the biggest mega-cap stocks hold exactly the same amount of weight as the smallest stock.
And as you can see – just like the actual S&P 500 – the equal-weight S&P 500 has also blown past its July highs.
Plus, if you look at the steepness of its decline from August to November, you can see that the equal-weight S&P 500 index suffered a much bigger decline compared to the regular S&P 500.
And yet, it’s made back all of those losses – and more.
This is a good sign that this new bull market isn’t just being driven by the large mega-cap stocks.
And because smaller stocks can make much bigger moves, there’s also more profits for us to capture.
The chart patterns are telling me we’re poised for a big move up
People sometimes ask me why I rely on chart patterns so much.
Of course, chart patterns aren’t the only tool in my arsenal – but they’re probably the most powerful one.
This is because market reality is reflected in the price action – and chart patterns are a way of interpreting that price action.
And right now, the chart patterns are telling me the market is poised for a big move up.
Sure, there may be some brief sideways movement or a very minor pullback as the market consolidates…
But now is the time to take action and get in position – especially because there’s usually a “Santa Claus” rally in the last few trading days of the year.
That’s why later today at 11 a.m. Eastern…
I’m going LIVE for a masterclass in how to apply what could be the most powerful chart pattern in all of trading history in your own trading.
During the past rallies this year, this pattern could have handed you gains like:
- 60% in 12 days on Aemetis Inc…
- 109% in just 22 days on Carvana…
- And 191% on Tingo Group in just a SINGLE month!
And with this latest rally looking to dwarf anything we’ve seen this year – you don’t want to miss this.
Clear your schedule…
And I’ll see you in a couple hours.
Remember, now is the time to set yourself up for the best 2024 ever.
Embrace the surge,
Editor, Stock Surge Daily