Hey, Ross here:
Welcome to the start of October and the fourth quarter of the year.
With nine full months behind us, it’s time to lift up the hood and look at what’s really happened in the 2023 “bull market”.
Chart of the Day
This chart says it all.
The vast majority of the gains posted by the S&P 500 this year has come from the “Magnificent 7” stocks – Nvidia, Meta, Amazon, Microsoft, Apple, Alphabet, and Tesla.
The other 493 stocks? Not so much.
In fact, a mere 37.5% of stocks are trading above their 200-day moving average…
The price action for the past two days has been positive.
Let’s see how it goes today – because that will help set the tone for the fourth quarter.
And as I said earlier this week, if we go by long-term historical trends, the fourth quarter should also be much better.
Meaning 62.5% of stocks are currently in longer-term downtrends.
What does this all mean?
I explain more in the Insight of the Day below.
Insight of the Day
Now is the best time to position yourself for a potential fourth-quarter rally.
Once pessimism sets in… once everyone is bearish and bracing for another bear market…
That is when stocks will begin to rise – catching everyone off guard as it always does.
It’s still a little early for that now. It’ll be soon – but not just yet.
Tomorrow, I’ll show you exactly what I mean – so keep a lookout for that.
In the meantime, I’m still out there collecting gains with my battle-tested strategies…
Like with the retail stock my “insider” strategy alerted me to just last Friday…
And is now up over 7%.
That’s a 7%+ gain in a single day, right in the middle of a punishing pullback.
So, if you want to start using this strategy for yourself…
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
