Hey, Ross here:
Tariffs on Chinese goods are now set to jump to 104%.
That’s why although stocks opened significantly higher yesterday, they closed even lower than the day before – and lower than after the Thursday–Friday selloff.
The chop continues.
Just look at the size of the daily candles being printed.
Chart of the Day
The S&P 500 traded within a 7% intraday range yesterday.
Looking at the chart above, you can see just how wide that has been compared to the past year.
And that range was even higher on Monday, where it traded closer within a 9% range…
With a lot of it being sparked by a Tweet from a parody Twitter account called “Walter Bloomberg” claiming that President Trump was considering a 990-day tariff pause.
My take on this? I explain below.
Insight of the Day
There’s still a lot of optimism that needs to be “flushed out” first.
The market typically turns when all optimism has fled.
Monday’s sharp spike on a false tweet shows that there are still a lot of optimists waiting for the slightest sign of good news to jump back in.
In my opinion, that’s going to lead to a lot of dead-cat bounces…
With each bounce likely sending the market lower after.
You don’t want to get trapped in these bounces.
But you can still profit from them – especially if you’re willing to take the short side.
That’s why later this afternoon at 3 p.m. Eastern…
I’m going LIVE to demo a strategy that has allowed us to pick up recent gains as high as 519%.
These are all gains made by taking the short side.
And with the selloff accelerating, we could see more gains just like these – even as everybody else runs for the hills.
The best part is that this isn’t an exclusively short-only strategy…
Meaning if things turn around, we can easily switch back to going long and look to profit from that as well.
In short, it’s a strategy for all markets…
And if you don’t have it in your toolkit right now, you’re underprepared.
So, if you haven’t yet – click here to guarantee your seat for my live strategy revel later…
And I’ll see you this afternoon at 3 p.m. ET sharp.
Customer Story of the Day
“Ross just gave one of the best enlightening reviews of the current trading market.
It was thorough, easy to understand, reviewed indicators that can help any trader and very attentive to our question to clear up any misunderstandings of the market.
Recommended for a Newbie to a more sophisticated Trader. Thank you.”
Ross Givens
Editor, Stock Surge Daily
