Hey, Ross here:

We’re back at new highs again.

Let’s start the day with a chart that shows you what I’ve always said…

That the smart money is always one step ahead.

Chart of the Day

This is the National Association of Active Investment Managers (NAAIM) Exposure Index, which tracks its members' degree of exposure to U.S. stocks.

In other words, it measures how much the “smart money” is invested in U.S. stocks.

Over the past few weeks, we’ve seen the index sharply rise – which is to be expected.

But here’s what I want to point your attention to…

The date the index bottomed – March 18.

This means that after March 18, the smart money started piling back into U.S. stocks.

Now look at when the S&P 500 bottomed…

Nearly two weeks later.

Like I said, smart money is always one step ahead.

But let me explain just why that happens below.

Insight of the Day

The smart money moves the market – which is why they tend to get there first.

That’s the key point.

The reason the NAAIM Exposure Index bottomed before the S&P 500 did…

Is because these are the investors whose buying and selling actually drives the market.

When they start moving back in, they create the demand that eventually lifts prices.

That’s why they so often appear to be “one step ahead.”

In many cases, they’re not just predicting the move…

They’re helping cause it.

And that leads to the obvious question:

Which stocks is the smart money quietly piling into right now?

I’m going to share more on that tomorrow morning.

But for today, let me ask you a different question…

Do you understand the “currency shift” that’s happening – and the assets that will benefit from it?

If you don’t, then make sure you click here to watch this video now.

Customer Story of the Day

“Ross is great at explaining and guiding me through everything he is teaching.

I'm learning more every time I listen to him and I had no experience whatsoever before I began to watch his material.

His team so far has been amazing and very responsive.  

Thank you, I'm excited to continue learning.”

Ross Givens
Editor, Stock Surge Daily