$TSLA $TSLA $TSLA! Up 20% on NYSI swing, 12 days up in a row overall, (6/12/2023)

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.

06/12/2023 — -End of the day…

The NYSI triggered a market breadth buy on the open of June 2nd.

Since then, seven trading days ago, TSLA is up nearly 20% (see the white flag on the chart’s right axis).

But — holy EV! — it has been racing there for seven days in a row, and — holy, holy EV!! — five straight days up even before the NYSI launched its second stage to send it up at total of 12 consecutive days.

I’d say that kind of move is not sustainable unless it’s gone parabolic and then who knows when it’ll end?