# Examining the Evidence for a Pullback

Canonical: https://stocksurgedaily.com/examining-the-evidence-for-a-pullback/

Hey, Ross here:

So, are we in a pullback yet?

Let’s look at some evidence.

**Chart of the Day**

![](/wp-content/uploads/2024/04/image-7.png)

_Source: Ian McMillan via X\\_

Today’s chart shows how, since late 2022, the Volatility Index (VIX) has generally been inversely correlated with the S&P 500.

As you can see, the VIX recently spiked – hitting a 5-month high.

This also coincided with April’s weaker market performance, with last week being the worst week in the markets since October 2023.

And yet – the S&P 500 is only about 2.5% down from its all-time high, and the Nasdaq is down even less, about 2%.

What could this all mean? Read the Insight of the Day to find out.

**Insight of the Day**

**Any pullback we see is likely to be relatively shallow – giving us solid entry opportunities for the next leg higher**.

All pullbacks feel painful – no matter how high the market is before they begin – and even if they’re relatively shallow.

So just prepare yourself.

But when we look at broad market breadth and longer-term market momentum combined economic resiliency and narrow credit spreads…

The highest likelihood is that any pullback will be relatively shallow – providing us with solid entry opportunities for the next leg higher.

But, we need to be even more discerning when it comes to entering trades during these periods.

That’s why **[tomorrow at 11 a.m. Eastern…](https://clktrac.com/JoinRoss/ssd_web_editorial)**

I’m going LIVE for a masterclass that will allow you to follow the insider money into stocks that could surge higher even if the market pulls back…

Because if the top insiders are buying – there’s always a very good reason.

So make sure you **[click here to save your spot for my masterclass…](https://clktrac.com/JoinRoss/ssd_web_editorial)**

And watch out for the login details in your inbox tomorrow morning.

See you then.

Embrace the surge,

![](/wp-content/uploads/2024/01/unnamed-12.png)

**Ross Givens**  
Editor, _Stock Surge Daily_