Home » Weird Chart Signals More Gains Ahead?

Weird Chart Signals More Gains Ahead?

Hey, Ross here:

Lots of volatility has the market digests the Fed’s messaging.

But let’s look at a counterintuitive development that may signal a bigger rally ahead.

Chart of the Day

This is the 10-year Treasury yield this week, which for the past couple years has been reliably negatively correlated with the stock market.

That red circle is when Powell started speaking after the Fed meeting on Wednesday.

We all know what happened to stocks – which kept falling the longer he spoke.

But as you can see, the 10-year Treasury yield fell instead – and is now about 10 basis points lower compared to before Powell’s press conference.

It’s too early to definitively tell what this counterintuitive development means yet.

But one likely possibility is that when the market is finally done digesting the Fed’s message, it could signal a bigger upward move ahead.

Insight of the Day

Don’t be surprised if we see another shallow pullback or sideways movement as the market digests the Fed’s messaging.

During a big rally, there can be weeks where the market seemingly goes nowhere – or even falls a little.

We saw that in December of last year – right before another big move up in January.

Couple the Fed’s recent messaging with the fact that the market has been on a tear these past few weeks – and I believe another pullback is due.

So don’t be surprised if that happens. I’m confident it’ll resolve upwards.

In the meantime, don’t ignore the opportunity that’s still right in front of our faces – earnings season.

That’s why later today at 12 p.m. Eastern…

I’m going LIVE for a masterclass to showcase a strategy that will allow you to target maximum gains from big earnings moves.

Earnings season is ending soon, so don’t miss it.

Click here to save your seat for my live masterclass later…

Clear your schedule…

And watch for the login details in your inbox shortly.

I’ll see you at the masterclass.

Ross Givens
Editor, Stock Surge Daily

Brand New Strategy for Profiting from AI Stocks.

There’s a brand-new strategy in 2024 for going after big profits in AI stocks. It has nothing to do with Nvidia, Microsoft, Meta – or any of the big AI stocks the media can’t stop talking about.

It has to do with a fast-moving “backdoor” that has opened in the AI market... A backdoor that could send a very special class of AI stocks rocketing into the stratosphere.

Ross Givens
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.

STOCK SURGE DAILY
With Ross Givens

Looking for an edge? Ross has the inside scoop on top analysis that will help grow your portfolio.. Receive a new stock opportunity every day and get ready to see your investment SURGE!

Tech stocks are rallying – and Ross Givens’ #1 Tech Stock of the Decade has been making BIG moves you don’t want to miss.

Whats in the Article