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Welcome to the Pullback

Published April 22, 2024

Hey, Ross here:

With last week’s close, the market has just had three consecutive losing weeks.

So, welcome to the pullback…

But as today’s chart shows – don’t expect to be here too long.

Chart of the Day

This is the RSP – the S&P 500 Equal Weighted Index. It shows how the S&P 500 would look if every stock was weighted equally, instead of by market cap.

You can clearly see how the RSP has pulled back since the end of March.

But you can also see that – for the last four trading days of the last week – the RSP traded mostly sideways. Its price appears to be consolidating.

This is not the case with the regular S&P 500, which continued to fall sharply over that same period.

What does this divergence between the RSP and the S&P 500 imply about this pullback?

I explain in the Insight of the Day below.

Insight of the Day

We might be seeing a new class of market leaders rising to the surface

Why is the S&P 500 falling faster than the RSP?

Because the big market leaders – the ones that disproportionately influence the index – are falling faster than the rest. Nvidia itself took a 10% dive on Friday.

But the fact that the RSP looks to have stabilized could mean that other stocks are rising fast…

Stocks that could potentially form the new class of market leaders.

These are the stocks you want to target.

And that’s why tomorrow morning at 11 a.m. Eastern…

I’m going LIVE for a masterclass that will allow you to target the stocks that could keep rising even as the market continues to pull back.

I’ll reveal why these stocks could keep surging in defiance of the market…

And show you the exact steps for pinpointing these specific stocks.

So make sure you click here to secure your seat for my masterclass…

And watch out for the login details in your inbox tomorrow morning.

Let me guide you through this pullback.

See you at 11 a.m. ET tomorrow.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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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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