Hey, Ross here:
Let’s start the day by looking at a chart that shows why this bull may finally be taking a rest.
Chart of the Day
This is the percentage of stocks trading above its 200-day moving average. The 200-day moving average is one of the best indicators of the longer-term direction of stocks.
You can see this percentage rising sharply from the start of November till the end of 2023 – coinciding with the blistering rally we saw in the final two months of last year.
Then, this percentage stayed fairly steady, which you can see by the white rectangle on the chart.
But as you can see now, this percentage is starting to sharply fall below that range.
This tells me we could actually be in the early stages of a real pullback right now.
But there’s another feature of this chart that most traders overlook – one that causes them to also miss out on the current opportunity.
Insight of the Day
When the pullback is over and the rally resumes, the percentage of stocks above their 200-day moving averages can rocket back faster than most think possible.
At the end of October 2023 – right after the painful pullback that began in August – less than 25% of stocks were trading above their 200-day moving averages.
Just two months later, that number was 67%.
The rebound from a pullback can come in strong and fast. So the last thing you want to do is miss it.
And that’s why later today at 3 p.m. Eastern…
I’m going LIVE for a masterclass that will allow you to target the exact stocks that could bounce back the fastest after this pullback – or even defy it altogether.
I’ll show you exactly how to implement this strategy in my masterclass – as well as highlight an urgent underground opportunity this strategy has just discovered.
So make sure you click here to lock in your spot for my masterclass later…
Clear your schedule…
And look out for the login details in your inbox before it starts.
I’ll see you at 3 p.m. ET later sharp.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
