Yesterday, I presented a chart that showed the stock market is most likely nowhere near bubble territory.
Today, let’s look at a chart that shows how market breadth is expanding – setting up the foundations for the next leg higher.
Chart of the Day
This is the percentage of stocks from the S&P 1500 (comprising the large-cap S&P 500, the mid-cap S&P 400, and the small-cap S&P 600) hitting new lows over various time periods.
The most important thing to notice? Just how few stocks are at new lows – across all the varying time periods.
This tells me that market breadth is healthy…
And healthy market breadth is what will set up the foundation for the next leg higher.
Insight of the Day
New highs tend to beget more new highs.
Lots of new highs make many traders nervous. This is understandable.
But the truth is – new highs tend to beget more new highs.
Of course, this can’t go on indefinitely.
But it’s going on right now – and we should take advantage of such conditions while they last.
That’s why in just a bit at 11 a.m. Eastern later today…
I’m going LIVE for a masterclass that will allow you to go after the stocks that could hit their new highs the fastest…
So you can extract the most gains from this market as quick as possible.
Just make sure you click here to lock in your spot for my live masterclass later…
And my team will send you the login details shortly.
See you there.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
