Hey, Ross here:
Markets are still digesting the Fed’s latest decision – and based on yesterday’s price action, it looks like a case of indigestion.
When trying to see where the market will go next, one important chart to pay attention to is the 10-year Treasury yield – which just “gapped up”.
Chart of the Day
This is the 10-year Treasury yield going back one year.
And as you can see, not only did it just breach the resistance level formed by its October 2022 highs…
But it also did so by “gapping up” – meaning it opened past the resistance level.
This is a sign that yields are likely to continue to rise – which would be a negative for most stocks.
Get ready for a bumpy ride ahead.
Insight of the Day
Those who can stomach bumpy rides stand to reap the rewards.
Going through a bumpy period in the markets is tough.
That’s why only a few can hack it.
The good news is that if you’re one of those few – the rewards are yours for the taking.
Of course, you still have to be strategic about it.
That’s why I’m going LIVE right now to explain what I’m seeing in the markets…
And the best strategy for playing the current situation.
And get ahead of the rest before the weekend hits.
Embrace the surge,
Editor, Stock Surge Daily