# Switching Gears for Swift Profits (Can You Do This?)

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Hey, Ross here:

Check out what I got for you today.

## **Chart of the Day**

![](https://stocksurgedaily.com/wp-content/uploads/2023/01/ssd181.png)

**Melco Resorts & Entertainment** (MLCO) owns and operates a handful of luxury resorts, clubs and casinos.

The leisure group has been responsible for a high percentage of super performance stocks in the past, so I’m happy to see a good trending name in this sector.

The stock broke out of a consolidation base in late November and hasn’t looked back since. Shares have been holding their 10-day EMA (yellow line) the entire time – a sign of strength for any stock.

I will consider buying on a pullback to the 10-day or a high volume move above $14 per share.

## **Insight of the Day**

****There may be a “stealth” bull market brewing beneath the surface that most people are missing.****

![](https://stocksurgedaily.com/wp-content/uploads/2023/01/ssd182.png)

For the last four months the NASDAQ has been essentially flat while the percentage of stocks above their 200-day has been steadily rising. 

In other words, the poor performance of the big names like GOOG, META, AAPL and others are hiding a stealth recovery below the surface. 

This is the opposite of what we were seeing in 2021, where these handful of mega-cap names were essentially propping up the index.

This is a good sign that a new bull market may be underway – even if most people are still distracted by the “headline numbers”.

Conditions like these also create plenty of “pricing anomalies” in the market – **[anomalies we can exploit using this strategy](https://webinar.tradersagency.com/alpha-stocks/?tambid=17584)**.

Embrace the surge,

![](https://lh3.googleusercontent.com/u1bkP1uK4S8G0S3HvULgVlf5Oo5Wbrv55mAknbfc5OR6vNHNjP1qlrqX2FKnCLs8y4Q5nWZ9PwfIVqxhz-34fL32yao8wdaoiXCbJJ58EmJQpGN3E4bEH0IN7idHTcKiHWk13J9JVX_wS94ti3GRsm8IvwDHfDXbLDoq3cBuIPLlVZxmB1XRqeqcQ7ou_w)

Ross Givens

Editor, **_Stock Surge Daily_**