Hey, Ross here:
The S&P 500 is less than half a percent away from breaching the 5,000 mark.
For some, it may seem a given that this level would be surpassed in days.
But as today’s chart shows, I would urge against getting too excited.
Chart of the Day
This is the 10-year US Treasury yield – generally negatively correlated with stocks.
From its recent price action, I wouldn’t be surprised if we see it break out strongly very soon.
Should that happen, the stock rally will likely run into heavy resistance that could lead into a sustained pullback.
On top of that, the 5,000 mark for the S&P 500 holds even more psychological weight than most – which would make it even harder to surpass.
Again, don’t be surprised if this rally stalls for a while.
In the meantime, don’t miss the opportunity that’s still wide open.
Insight of the Day
The best part about earnings season is that it creates opportunities that are largely uncorrelated with the broader market.
Inflation… Treasury yields… US dollar strength – these are all things that are highly correlated with the broader market.
Individual stock movements as a result of earnings season? Not so much.
That’s why I keep urging you to take advantage of the earnings season opportunity while it still lasts – especially with the broader market looking increasingly due for a pullback.
And it’s also why later today at 4 p.m. Eastern…
I’m hosting a LIVE masterclass on a strategy that will allow you to target the most lucrative opportunities still out there right now by leveraging legal insider information.
Those who had access to this strategy could already have booked a 26.8% gain just over the past two days.
So don’t allow yourself to miss it.
And look out for the login details in your inbox later this afternoon.
See you at 4 p.m. ET.
Embrace the surge,
Editor, Stock Surge Daily