Hey, Ross here:
Welcome to a new trading week.
Last week was the best week for the markets in over a year, and things are playing out even better than I expected.
But we could just be getting started.
Chart of the Day
If you followed my advice and bought stocks last week, there’s a good chance you had a profitable few days.
The S&P 500 rose 5.91% last week – its best week in over a year. The Nasdaq did even better, tacking on 6.53%.
This move caught a lot of traders by surprise. After breaking support at 4,200 on the SPY (dashed line on chart above), many bulls threw in the towel and gave up hope for a bounce.
But as I discuss regularly, this is precisely when reversals happen.
Bear markets don’t end when the outlook finally turns rosy. If you wait until it is obvious that conditions have improved, you will miss the bulk of the move.
Selloffs end when people quit selling… when the last stubborn bull throws in the towel and sells his positions.
This moment of “peak bearishness” is where savvy traders look to buy.
Insight of the Day
When the wind is at your back, take full advantage of it.
Can you make money in bearish or sideways markets? 100% yes.
But is it as easy as making money in bullish markets? 100% no.
When the wind is at your back… when the entire market is shifting into an uptrend – that’s when the profits become easier to grasp…
So the absolute last thing you want to do is miss out on this rally.
That’s why I’m going LIVE tomorrow at 12 p.m. Eastern to show you my #1 strategy for taking maximum advantage of this rally.
It’ll show you how to target clean setups in strong stocks from the best-performing groups.
And make sure you show up, sharp and prepared to learn.
Otherwise, you’re just wasting this opportunity…
And those who are prepared will just race past you.
I’ll see you tomorrow.
Embrace the surge,
Editor, Stock Surge Daily