# This is Not the Time to Panic

Canonical: https://stocksurgedaily.com/this-is-not-the-time-to-panic/

Hey, Ross here:

Welcome to a new trading week.

Markets posted a big fat red candle last Thursday. But by the time they closed on Friday, they had mostly recovered to Wednesday’s levels – although they still closed lower for the week.

So let’s zoom in on Thursday’s market move and explore what it tells us about the market.

**Chart of the Day**

![](https://stocksurgedaily.com/wp-content/uploads/2024/04/Screenshot-2024-04-05-at-10.07.41 AM-1024x655.png)

On Thursday, Minneapolis Federal Reserve Bank President Neel Kashkari gave an interview to Pensions & Investments on LinkedIn Live. 

And unlike Fed Chairman Jerome Powell, who is careful to follow scripted remarks, Kashkari spouted opinions of his own. And at 2:03pm ET, he said this…

_“But if inflation continues to move sideways, makes me wonder if we should cut rates at all this year.”_

You don’t do that.

Especially after Powell just confirmed the Fed’s plans to cut rates 3 times in 2024.

This mixed messaging caused panic. And traders dumped stocks like they were on fire.

Above is a 5-minute chart of the Nasdaq index showing how things played out.

Thursday morning, the indexes were less than 1% from all-time highs.

By the close, the Nasdaq was touching the 50-day moving average… the first time it has done so since November.

![](https://stocksurgedaily.com/wp-content/uploads/2024/04/Screenshot-2024-04-05-at-10.07.49 AM-1024x655.png)

In one hour, we learned what investors fear the most – interest rates.

Outside of a Black Swan event, failure to act by the Fed and follow through with its promise of rate cuts is the only thing that will stall this bull market.

Still, as I explain in the Insight of the Day, this is not the time to panic.

**Insight of the Day**

**Don’t switch your strategies at the first sign of weakness – always wait for confirmation**.

This was the first sign of weakness in five months.

On top of that, we have yet to go through a healthy pullback that’s necessary for the next leg higher.

Now is not the time to panic – or even switch to defense.

But, we should position ourselves more strategically.

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 position yourself in the highest-potential “insider” stocks…

Stocks where their own executives – those who know every last detail about the company – are eagerly snapping them up.

That’s how you play it smart.

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

And watch out for the login details in your inbox closer to the start time.

I’ll see you tomorrow at 11 a.m. ET _sharp_.

Embrace the surge,

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

**Ross Givens**  
Editor, _Stock Surge Daily_