Hey, Ross here:
More Fed officials opened their big mouths yesterday to yap about the need for higher-for-longer rates and even calling for more rate hikes – sending 10-year Treasury yields to levels last seen in 2007.
Can’t someone put a lid on them already?
Despite that, the Nasdaq still managed to close higher and the S&P 500 remained flat.
Is that a good sign?
Well, here’s what I expect to see for the markets for the rest of the year.
Chart of the Day
Since topping at the end of the Summer, markets have been choppy and range bound.
We have seen a series of lower highs and lower lows as reality and rising rates caught up with stock prices.
Following an ugly September, we are likely due for a short-term bounce higher.
This small rally is unlikely to penetrate the 50-day moving average, at which point I am expecting a final flush lower.
This will make the final bulls throw in the towel and hit everyone’s stop losses.
This is the final flush lower that will lead everyone to believe another bear market is coming.
And counterintuitively, that’s when the market will likely move higher, with the bull market resuming.
Now you know what to expect.
Insight of the Day
Better expectations leads to better opportunities.
Stock prices are based on market expectations.
Therefore, those who have better and more calibrated expectations have a better chance of profiting – no matter what the current market environment is.
Thanks to the Chart of the Day, you’re now equipped with better expectations than the rest of the market.
You’ll be able to act more calmly, rationally, and take positions that could set you up for major gains while everyone’s running around confused wondering what’s going on.
And that’s exactly why I’m going live right now…
To show you my top strategy for taking tactical positions that could deliver spectacular gains if you’re willing to wait just a bit.
I call them tactical positions because each position is based on a powerful informational edge most traders don’t even know exist.
So click here to join me in the live room now…
And I’ll explain just how this edge works – and how you can apply it to your own trading right now.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
