As expected, the Fed held rates steady yesterday.
However, Powell was a little more dovish then I thought he would be – confirming that the next move is highly unlikely to be a rate hike, despite persistent inflation.
That’s a good sign, especially considering the longer-term trend is still healthy.
Chart of the Day
This is an interesting chart that shows the percentage of stocks above key moving averages in a single image.
And as you can see, the longer-term moving averages are still healthy, while we’re seeing weakness in the shorter-term ones.
In short, we have short-term weakness amid long-term strength.
I explain what this means in the Insight of the Day.
Insight of the Day
Short-term weakness amid long-term strength is an opportunity to increase potential gains by lowering entry prices.
Bull markets are made by long-term trends, not short-term volatility.
Right now, the bull market is still intact…
Meaning the short-term weakness we’re seeing is merely a chance to pick up the leading stocks at lower prices…
Because once the longer-term trend resumes – as they usually tend to do – these are the stocks that are most likely to shoot up the fastest and highest.
That’s why tomorrow morning at 10 a.m. Eastern…
I’m going LIVE for a masterclass that will allow you to target these leading stocks that are trading at a discount so you can maximize your gains in the coming rebound.
The key? A predictable “pattern” that all these leading stocks have.
But you have to act fast…
So make sure you click here to save your spot for my masterclass tomorrow…
And watch out for the login info in your inbox before it starts.
See you at 10 a.m. ET tomorrow.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
