“Nifties” from the #Nifty50StockList on day-two of the NYSI swing trade — (7/11/2023)

THE SIMPLE TRADING STRATEGY

Short-term swing trading: When the NYMO turns up, it is time to buy stocks on the next open. When the NYMO turns down it is time to sell stocks on the next open.

Longer-term swing trading: When the NYSI turns up it is time to buy stocks on the next open. When the NYSI turns down, it is time to go to cash or to go short on the next open.

The NYMO and NYSI are both derived from the McClellan Oscillator. They are to my mind the best measures of stock market mass psychology, measuring the swings from fear to greed and back again, and the best indicators of market direction.

Most stocks move best with the market.

Simple as that.

07/11/2023 — During the day…

The NYSI triggered a buy signal on yesterday’s open…

Let’s call these leaders on the upswing three from the Nifty50StockList and one to grow on — CVNA is on the list (number one actually), and ROKU and EXPI are on the list as well, while RDFN is a prospective addition at the end of this swing.

A TWO-DAY SWING TRADE so far…

Three of these are up more than 20% in two days.

This why one keeps a watch list. In order to have selections to take when the market gives an all-clear for a takeoff.

(The white flags on the charts’ right axis display the dollar/percentage gains for each $10K traded — $2000, $2000, $2000, $1600 in the two days. Click on the chart panel for a larger view.)