Hey, Ross here:
Welcome back from what I hope was a great 4th of July weekend for you. Now, let’s talk markets.
The first half of the year is officially over. Here’s my review for the first half of 2023 – and where I see the market going next.
Chart of the Day
Those who sat on the sidelines in 2023 have missed some nice gains.
The Nasdaq was up 33% while the S&P 500 was up over 15%.
And many individual stocks saw much higher gains.
Hopefully you have been taking my advice and participating in the rally.
I have been bullish since January when the market gave us a breakaway momentum signal, telling you to keep buying throughout January and February.
In March I brought your attention to the upside reversal in the Nasdaq – which proved to be the best buying opportunity of the year.
And I have remained steadfast in my view that this was, in fact, a new bull market.
My outlook has not changed.
We are at the beginning of a powerful bull market that will continue to propel stocks higher for likely the next couple years.
Many investors make the mistake of waiting for the macro outlook to improve before investing. They are under the false impression that the economy leads the stock market.
Nothing could be further from the truth.
In fact, it is just the opposite.
Go back and look at every bear market throughout history. Stocks have ALWAYS bottomed long economic conditions improved.
As legendary investor John Templeton once said, “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”
In other words, once the general public is finally optimistic, the bull market is coming to an end.
During the great financial crisis, stocks bottomed in March 2009 – right when things were at their worst. By the time employment and GDP numbers were healthy, the market had already doubled.
It was the same with the COVID selloff of 2020.
The low came right when things were at their worst… at the start of the lockdowns when unemployment numbers were the highest on record.
And the current rally began in October of last year – on the very day we saw the highest inflation report in modern history.
The price action is clear – this is a power trend.
Insight of the Day
Bull markets make it much easier to make money in stocks – but you need to stay focused on the price action.
Bull markets make it much easier to make money in stocks.
The tide is on your side, and the trend is your friend.
But unless you turn off the TV, put down the newspaper, and focus on how stocks are moving – you’re unlikely to succeed.
The price action tells you where all the treasures lie.
That’s why we traders use patterns so much – they’re like a “map” for navigating the price action to find the most lucrative opportunities.
And later today at 12 p.m. Eastern, I’m going LIVE to show you my top-performing pattern that has absolutely crushed it in the first half of 2023.
I’m talking multiple wins of over 50% (and one of over 100%) – all in mere weeks.
So click here to save your seat for my live session later…
Because I believe the second half of 2023 will be even better…
And I can’t wait to show you how to play it.
See you in a couple hours.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
