Hey, Ross here:
Welcome to the first trading day of 2024.
Market conditions are telling me it’s going to be an exciting year…
So let’s start the day with a chart that shows where market leadership is shifting toward.
Chart of the Day
Here’s the scorecard for 2023 – the Dow is up 14%… the Russell 2000 is up 16%… the S&P 500 is up 25%… and the Nasdaq is up 45%.
The Nasdaq’s outsized performance was due largely to a small handful of stocks now referred to as the ‘Magnificent Seven.’
Apple, Amazon, Alphabet, Microsoft, Nvidia, Tesla, and Meta all saw huge gains which were largely just recoveries from the 2022 bear market.
Once stocks began showing progress, institutions piled into these highly liquid former winners and boosted their share prices off the lows.
But as the above chart shows, that picture is quickly changing.
Market leadership is shifting and we’re now in the “sweet spot”.
This is good news – and I explain why in the Insight of the Day.
Insight of the Day
Shifting market leadership is a rare opportunity that many traders often miss.
Small-cap stocks – which outpaced their large-cap counterparts in December – are now leading the market. I expect this trend to continue.
I’m seeing institutional money flow into four sectors – construction, banking, crypto, and biotech. These are where I believe plenty of new market leaders will emerge from.
We’re now in the rare “sweet spot” – where there has been enough price action confirmation of this new market leadership, while still having lots of big gains to be exploited.
Now is the time to strike.
That’s why later today at 12 p.m. Eastern…
I’m going LIVE for a masterclass on how to target the fastest-moving new market leaders for maximum gains.
There’s still time to join me…
Clear your schedule…
And keep a lookout for the login details in your inbox.
Market leadership shifts don’t happen very often – so you don’t want to miss this opportunity window right at the beginning of a new year.
See you soon.
Editor, Stock Surge Daily