Hey, Ross here:
Things are playing out as I expected – and today’s chart just shows one more reason why.
Chart of the Day
This is the S&P 500 falling – and still staying – below its 200-day moving average (red line on chart).
The 200-day moving average is a critical level as it not only shows the longer-term direction of the market – but also acts as a critical level of support.
There’s a saying that “nothing good happens below the 200-day moving average”…
And famed investor Paul Tudor Jones famously uses it as his key market metric.
If buyers don’t step in to defend the 200-day moving average – and the market keeps getting pushed lower before it…
Then that’s a sure sign we’re in the final leg down.
Insight of the Day
The market leaders will bottom – and rise – before the rest of the market.
The whole idea of a market leader is that it leads the market – both on the way up and the way down.
That means market leaders will bottom and start rising once more before the rest of the market does…
Which is why it’s critical you’re able to spot these market leaders now – NOT after the market bottoms…
Because by then, the best opportunities would already have passed you by.
That’s why I’m going LIVE right now to show you my “market leader” strategy in person…
So you can get ahead of the rest of the market and take the highest-potential positions before most traders even have a clue what’s going on.
So click here to join me in the live room now…
And let me show you how to get ahead of the pack.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
