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This is What I Expect

Published October 3, 2023

Hey, Ross here:

More Fed officials opened their big mouths yesterday to yap about the need for higher-for-longer rates and even calling for more rate hikes – sending 10-year Treasury yields to levels last seen in 2007.

Can’t someone put a lid on them already?

Despite that, the Nasdaq still managed to close higher and the S&P 500 remained flat.

Is that a good sign?

Well, here’s what I expect to see for the markets for the rest of the year.

Chart of the Day

Since topping at the end of the Summer, markets have been choppy and range bound.

We have seen a series of lower highs and lower lows as reality and rising rates caught up with stock prices.

Following an ugly September, we are likely due for a short-term bounce higher.

This small rally is unlikely to penetrate the 50-day moving average, at which point I am expecting a final flush lower.

This will make the final bulls throw in the towel and hit everyone’s stop losses.

This is the final flush lower that will lead everyone to believe another bear market is coming.

And counterintuitively, that’s when the market will likely move higher, with the bull market resuming.

Now you know what to expect.

Insight of the Day

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Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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Ross Givens

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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