The Bulls are Back as Advance Decline Makes New High.

It’s a bad time to be a short seller.

I’ll show my age a bit by referring to that song by Grand Funk Railroad from 1975 - “Bad Time.” The easy to sing along with hook “bad time to be in love,” is easily adaptable to the current market where it’s a bad time to be a short seller, where as I detail below, the most reliable stock market indicator since 2016, has just made a new high.

The bulls came roaring back on 8/15/24, delivering a new high on the New York Stock Exchange Advance Decline line, easily the most reliable market indicator since 2016.  In addition, my recent Nasdaq based trade is live and I’ve updated the sell stop. You can get the details below.

NYAD has more room to rise as the RSI is near 50. That gives it another 50 RSI points before it gets overbought.  In addition, VIX is back below 16 as the short sellers continue to get slaughtered.

In this later than usual in the day update I am also adding another “if this happens, do this (ITHDT)” trade. 

Thanks to everyone for your ongoing support, especially new members. I really appreciate it.

Thanks also to all the current Buy Me a Coffee members and supporters.  Special shout out to new members who now have access to the Sector Selector ETF Service, which is included, at no extra charge with your Buy Me a Coffee membership.

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You’re the music. I’m just the band.