Markets pared back some of the past two days’ losses after Powell told Congress that the Fed is still on track to cut rates this year.
Today, I want to highlight one of my favorite charts – and what it means for the market.
Chart of the Day
This is RSP – the Equal Weight S&P 500 Index – essentially how the S&P 500 index would look if every stock in there was weighted equally instead of by market cap.
As you can see, it just reached a new all-time high – and looks like it could be on the verge of breaking out.
This is a good sign for the overall health of the market, as it means it isn’t just the huge mega-cap stocks pulling everything up.
On Tuesday, I highlighted how the small-cap Russell 2000 index could also be breaking out of a long-term consolidation phase.
Couple this with what we’re seeing in the RSP – and it’s generally good news for the market.
Insight of the Day
A big breakout in the smaller lesser-known stocks could signal even more profits for savvy traders.
The past few months have been good for us and our members – very good.
But if these big breakouts in the RSP and Russell 2000 index occur, those gains could just be the start.
And to take maximum advantage, you want to position yourself early.
That’s why tomorrow at 11 a.m Eastern…
I’m going LIVE for a masterclass that will allow you to position yourself in the highest-potential breakout stocks…
So that while everybody else is scrambling – chasing after the rising stocks…
You could be sitting back and enjoying the gains.
But getting in early is crucial for that…
So make sure you click here to secure your seat in my masterclass…
And watch out for the login details in your inbox tomorrow morning.
See you then.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
