Hey, Ross here:
The S&P 500 and the Nasdaq are now in their longest win streak since November 2021 – two whole years ago.
This rally has legs – and the Chart of the Day only adds to that proposition.
Chart of the Day
This is the S&P 500 with the number of net new highs and lows at the bottom.
We’re now back in positive territory – with more new highs than lows.
This is a great sign – especially because the market had largely been falling for the past 3 months…
Which makes it progressively more difficult to achieve new highs.
So the fact that this indicator has flipped positive is a sign this rally has good legs.
Insight of the Day
When a strong rally takes the market by surprise, it’s critical to be extra strategic in your positioning.
The speed of the rally that started last week took most traders by surprise (even me)…
Especially considering it coincided with peak bearish sentiment in the market.
When this happens, it can be tempting to “let loose” and snap up whatever stocks you see rallying off their lows.
That would be a mistake.
Because while the broader market may still rally…
Many of the rallies in individual stocks can fizzle out much quicker – and take your profits along with them.
You don’t want this to happen to you
That’s why I’m going LIVE later today at 4 p.m. Eastern…
To show you how to be extra strategic and target the strongest stocks amid this rally.
And I’ll explain how you can avoid this critical mistake and set yourself up for maximum success.
See you later.
Embrace the surge,
Editor, Stock Surge Daily