Hey, Ross here:
After kicking off 2024 on a slightly down note, things look to be picking up again.
Notably, as the Chart of the Day shows, the percentage of stocks trading above their 50-day moving averages look to be ticking back up.
Chart of the Day
At the end of December, 86% of stocks were trading above their 50-day moving average – the highest in 2023.
With last week’s pullback, that number predictably has decreased.
But after yesterday, it now stands at 79% – which is still higher than during the market’s previous peak in July.
This tells me the market is still healthy (regardless if the pullback continues) – and that it’s still a good time to go after the leading stocks out there.
Insight of the Day
The healthier the market, the better the leading stocks tend to do.
I’ve been preaching about going after the new market leaders for a while now.
And the reason is simple – the healthier the market, the better these leaders tend to do.
Lots of them have broken out in the past few weeks, and those who followed my recommendations could have picked up gains like:
- 24% in 15 days on Mohawk Industries (MHK)
- 54% in 37 days on Dream Finders Homes (DFH)
- 94% in 4 weeks on Bit Digital (BTBT)
Ignore the superstitious folk who believe that having a slightly negative week to start the year somehow overrules everything else the market has going for it right now.
That is nonsense – and listening to that kind of talk is a surefire to miss out.
The market is healthy. And after last week’s pullback – now is an even better time to go after the market leaders.
That’s why later today at 12 p.m. Eastern, I’m going LIVE for a masterclass that will show you exactly how to spot these new market leaders.
This is a strategy used by the greatest traders in history, and I’ve adapted it for modern markets.
But no matter how good a strategy is, it’s wasted if you miss the opportunity window – which is wide open right now.
So click here to save your seat for my live masterclass later…
Clear your schedule…
And keep a look out for the login details in your inbox.
I’ll see you very soon.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
