Hey, Ross here:
Yesterday was the first time in 356 days since the S&P 500 closed at least 2% lower for the session.
As I said earlier this week, I’m not surprised to see the large-cap tech stocks pulling back and volatility spiking.
And if we peek under the hood, we’ll see what most traders are missing.
Chart of the Day
This chart shows the S&P 500 index with all the days where it closed at least 2% lower marked in blue.
Then for every one of those -2% closes, it shows how many stocks in the index closed higher despite the lower overall close.
Yesterday, 165 stocks – 33% of the index – closed higher even though the index fell by 2.3%.
This was the highest number by far in the past 10 years.
What does this mean? I explain below in the Insight of the Day.
Insight of the Day
The decline in the large-cap tech stocks is now disguising the strength beneath the surface.
Previously it was the opposite – the strength of the large-cap tech stocks disguising weakness in the market.
Now, the tables have flipped…
And it’s now the weakness of the large-cap tech stocks disguising the strength in the market.
They’re pulling down the entire index because of their size…
But beneath the surface, there are still plenty of stocks surging…
Especially now that earnings season has just kicked off.
That’s why tomorrow morning at 11 a.m. Eastern…
I’m going LIVE – with a very special guest – for a masterclass on my top earnings season strategy…
A strategy based on “piggybacking” the trades of those with the greatest informational advantage out there – the corporate insiders.
With volatility spiking and hundreds of stocks climbing beneath the surface – all in the middle of earnings season…
There’s never been a better time to put this “insider” strategy to work in your own trading.
In my special masterclass tomorrow, I’ll go live to explain:
- What makes following the top corporate insiders such an incredibly powerful trading strategy…
- The key details separating the “must follow” from the “avoid at all costs” insiders…
- And the 3 counterintuitive insider buying signals you must know about to make this strategy work
After the masterclass, I think you’ll immediately see why this strategy is perfect for current conditions.
So click here to save your seat for my live masterclass tomorrow…
And watch out for the login details in your inbox before it starts.
I – and our special guest – look forward to seeing you tomorrow at 11 a.m. ET.
Customer Story of the Day
“I appreciate TA’s thoroughness. The weekly classes are so helpful and they don’t mind repeating the information and answering the questions to help us get a better understanding of the information. I was able to recoup the initial costs within a month of signing on with the direction they provided.
Thank you so much Ross and company for all your hard work.”
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
