Hey, Ross here:
Yesterday, I shared how the indexes need to break out of the boundaries of the huge daily candle on April 9 – when President Trump paused tariffs and markets jumped 10%.
Well, by the time markets closed yesterday, both the S&P 500 and the Nasdaq had broken past this level.
Let’s look at the next level to watch.
Chart of the Day
The 5,500 level on the S&P 500 served as support throughout March…
Before the index fell through it in April, at which point it has now become resistance.
A decisive break through this level would be a huge positive development for the markets.
But again, let’s remember that just because we’ve had a strong past few days in the markets does not mean it’ll keep going up in a straight line.
There will be surprises along the way, especially with uncertainty around policy still sky high.
I explain the mindset you must have in this kind of environment below.
Insight of the Day
In this market, you have to be agile – because the second you form a rigid opinion, the market could flip the script.
Whether you think President Trump is good or bad for stocks…
Whether tariffs are ultimately helpful or harmful…
Whether this latest rally is the real deal or just another head fake…
None of that matters as much as your ability to stay flexible.
Because right now, nothing is moving in a straight line.
The only thing that’s consistent is the volatility.
Since President Trump took office we’ve seen some of the sharpest swings in decades.
And surviving – and finding your edge – in a market like this means letting go of assumptions…
Being willing to go long, go short, switch strategies – sometimes in the same week.
And most importantly, being willing to change your view when the market proves you wrong.
Don’t be surprised if we see much more choppy action next week.
Stay flexible – and have a great weekend ahead.
Customer Story of the Day
“I like to have clear cut evidence of claims during presentations of the type Ross gave to the RYU group this week.
As a retired physician I have been witness to dozens of seminars, video conferences and group talks that always sell the sizzle and not the steak.
I saw the meat of the TA approach and bought some beef.
Looking to simplify my trades and still learn after 50 yrs.”
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
