Built by Traders, for Traders

Ross Givens

Stock Trader & Educator

Don’t Be Surprised If This Happens

Hey, Ross here:

Welcome to a new trading week.

Last week was another good one for the markets – which have been moving almost exactly like I said it would. It feels good to be right.

Chart of the Day

The markets are playing out as expected.

But while the above chart is focused on the S&P 500 (+2.3%), all indexes did well last week.

The Nasdaq (+2.1%) and the Dow (+1.88%) all booked strong gains.

But small-cap stocks, tracked by the Russell 2000 index, were the clear standout. The Russell soared 5.4% last week in its best performance in more than a year.

Even the equal-weighted index, RSP, notched a 3.3% gain.

These are all good signs. Unlike some of the previous rallies we have seen lately, this run has not been led by a small handful of mega-cap stocks. 

When RSP outperforms SPY, it means there is broad participation. And market internals are confirming the validity of this move.

On top of all that:

  • The net new highs indicator is again painting green, with more stocks making new 52-week highs than lows three days in a row – the first time since August.
  • The percentage of stocks above their 50 and 200-day moving averages  are continuing to rise, with 56% of stocks now in short-term uptrends and 41% in long-term uptrends.
  • Our TA Market Health Gauge (more on this later this week) is bright green – signaling a very bullish environment

Things are looking good.

As for what I expect going into this week – read the Insight of the Day to find out.

Insight of the Day

It is not unusual for the market to stall at a previous high before continuing its advance. Don’t be surprised if stocks take a breath here this week..

The Nasdaq is sitting at its highs of the year and the S&P is less than 2% away. 

It is not unusual for the market to stall at a previous high before continuing its advance. 

If stocks pullback, I expect it to be shallow and temporary. 

Use the opportunity to buy leading stocks in top-performing groups in anticipation of the next wave higher.

These leading stocks are more often than not the stocks that institutional investors are heavily buying.

And although they do their best to cover their tracks…

You could still identify these stocks – and potentially profit from their money – if you know what you’re looking for.

That’s what my Stealth Trades strategy is all about.

And for a very limited time only, you can get a full year of access to this strategy’s recommendations for only 99 CENTS.

That’s an insane deal – one we can’t keep open for much longer.

So click here to take advantage of this crazy $0.99 Stealth Trades deal before it’s gone.

Embrace the surge,

Ross Givens
Editor, Stock Surge Daily

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