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The Market’s Wildcard

Published October 17, 2023

Hey, Ross here:

And let’s look at some interesting price action that points to where the market could be heading in the short run.

Chart of the Day

The market defied the negative momentum we saw at the end of last week and rallied yesterday on the back of earnings optimism.

Interestingly, yesterday’s close – as you can see from the white horizontal line on the chart – is pretty much exactly where the S&P 500 “gapped down” on September 21…

Right after the Fed indicated that they would likely keep interest rates higher for longer.

I believe this is a pivotal point in the short term.

The wildcard here is earnings.

If most come in stronger than expected and the market convincingly breaks through this level, we may see the short-term bounce continue for a while longer.

If it doesn’t, then the final leg down may begin very soon.

Either way, stay prepared.

Insight of the Day

It’s critical to be able to spot opportunities that may not “fit” with your current outlook

You already know that I expected the market to bounce – and that I believe it must make a final leg down before the bull market can resume.

That hasn’t changed.

But things never play out perfectly.

And given the positive corporate earnings that have come out thus far, there’s a very good chance this bounce may last longer than I initially anticipated.

That’s fine, I’m not taking it personally.

In fact, it just means there are more opportunities I can show you how to take advantage of.

And that’s why I’m going LIVE right now…

To show you how to use my #1 “quick gains” strategy to keep playing this bounce while it’s still there.

This strategy could already have you sitting on multiple open gains – all recent trades entered this very month…

And it could already have booked you multiple double and even triple-digit gains earlier this year.

So don’t miss your chance…

Click here to join me in the live room now…

Because I won’t be showcasing this strategy live again for possibly months…

And I don’t want you to miss out.

See you inside.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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