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Every single sector on the market is hitting lower lows.
But it looks like this downward spiral may soon be over.
I say this because I’m noticing multiple double bottoms all across the stock market.
Which means right now we have a great opportunity to make multiple double-digit profits.
So we’re going to do what Stock Navigators do best.
We’re going to capitalize on this price action.
Now is the time to move in, take our money, and move on to the next trade.
It’s Time to Go Fishing When You See The W
My charts are showing me a double bottom - aka the W - and that means it’s time to go fishing.
The W is one of my favorite technical patterns because this means the stock is finding support.
You usually see this when a stock begins bouncing back from a selloff.
With the Russia-Ukraine war sending the entire market to lower support levels, the entire world has been waiting to see when the markets will bounce back.
Well, we’re seeing the W in multiple different sectors.
Which is a strong sign that stocks are gearing up for a major bull rally.
So get your fishing rod out because it’s time for us to go bottom fishing!
“Bottom fishing” is when you invest in assets that have experienced a steep decline.
Basically, we’re going on a shopping spree because the market is giving us a great discount.
4 Different Ways to Lock In a Double-Digit Gain
I’m seeing a bullish reversal trend in every single sector on the market.
For example, the communications sector.
I like to track this industry by looking at the Communication Services Select Sector SPDR Fund (XLC).
This sector has been on the decline for nearly a year but we’re finally seeing signs of a reversal.
XLC has found support at the $64 range.
But do you notice the 200-day moving average?
It’s currently sitting at $78.28.
Do you know what I do when I see a stock that:
I buy the stock and position myself for an easy 22% profit.
Now that’s how you buy low and sell high.
Former Microsoft VP Grills Tom
The Stock Navigator family has our own share of secrets and private conversations.
Yes, I’m the chief market strategist - aka the head honcho - of the SN crew.
But I want you to know that it is an honor to serve the Stock Navigators all over the world.
This past weekend, we had our Las Vegas conference.
I was so deeply humbled by everybody there.
Thank you so much for coming out.
It was so great to finally party with everybody!
You can watch the conference highlights below...
Of course, we had some great lessons on trading, for example: the Ichimoku cloud.
But the best part of the conference was hands-down the spontaneous conversations I had with everyone.
One of my favorite talks was with a former VP of Microsoft’s legal team!
What a pleasant surprise to know that our Stock Navigator crew includes people who were leaders of their Fortune 50 companies!
He was absolutely grilling me the entire weekend, picking apart all my investing ideas and making me explain my trading strategy in great detail.
Ha! I love it!
The Stock Navigator family is a group of focused, goal-oriented investors, and seeing everyone in person was a fresh reminder that we don’t have to invest alone.
Besides, making money is much more fun with a like-minded crew backing you up!
Stock Navigators has one mission - to help people improve their lives via trading. And it's all made possibly by our team of stay-at-home day traders who provide the most up-to-date analysis every single day. With over twenty years of combined trading experience, Stock Navigators helps you stay on top of the market.
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