Hey, Ross here:
As widely expected, the Fed held rates steady again yesterday.
Interestingly, two Fed governors dissented – making it a split decision.
As par for the course, markets dipped the more Powell flapped his lips.
But a couple positive Big Tech earnings at the end of the day helped carry the market till the close.
Currently, market expectations for a September rate cut have drastically fallen – from over 90% to about 40%.
And yet…
As today’s chart shows, this is a market that’s still on the offensive.
Chart of the Day
This is XLP/SPY…
Essentially the ratio of the Consumer Staples ETF (XLP) to the S&P 500.
If the chart is increasing that means that XLP is scooping up a higher proportion of the S&P 500.
If it’s decreasing, then it’s the opposite.
Now, Consumer Staples is traditionally a defensive sector.
It’s where investors run to whenever risk appetite plunges.
That’s why you can see the XLP/SPY ratio spike from March–April during the brief bear market.
But since the recovery, you can see this ratio has been steadily declining.
And even after yesterday’s Fed meeting, the ratio kept falling.
It’s now at the same level as it was back in January – before the February highs.
In short, this is a market that’s still on the offense.
The question – and opportunity – is this:
How many people know it?
P.S There’s so much market-moving news happening this week. If you’re late – you’re behind. Don’t let that happen to you. Text the word “trade” to 87858 and get this newsletter straight to your mobile.
Insight of the Day
The opportunity comes from people thinking the market is on the defense – when it’s really on the offense.
Scroll through the news headlines and there’s no shortage of people calling this market “overvalued”…
Making comparisons to the Dot-Com bust…
And talking about how fragile the entire market and economy is – like it’s one step away from everything just crashing down.
Combine that with the Fed’s hawkish tone yesterday…
And you have a lot of people thinking the market is now on the defense.
As I just showed you above, that’s false.
But I don’t mind people thinking that.
In fact, I hope more people fall for that misconception…
Because that’s what creates opportunities we can exploit.
That’s why tomorrow, Friday August 1, at 11 a.m. Eastern…
I’m going LIVE to show you how to target the “ignored” stocks that are also going on the offense…
The ones barely anyone is paying attention to…
And yet are ready to charge forward ahead of the bull market…
Potentially delivering high double-digit to even triple-digit gains in a matter of weeks – or even days.
I’ll demonstrate exactly what to look for in these explosive stocks…
And by the end of my presentation, you’ll know more than 99% of traders out there.
So click here to save your spot for my live demo tomorrow…
And I’ll see you Friday morning at 11 a.m. ET sharp.
P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
Customer Story of the Day
“I followed Ross for approximately six months before joining.
In those six months, I honestly could have doubled if not tripled my money invested in stocks, not including what I could have banked with options.
Ross, as well as his staff, are pleasant and convenient regarding communication, but most important, they are knowledgeable and experienced.
They have educated me that the little guy can still profit with guidance and education.”
Ross Givens
Editor, Stock Surge Daily
