Why Bullish Investors Shouldn’t Get Their Hopes Up

This is the fifth time that we’ve seen these levels. [Jeff Clark's Market Minute]( Why Bullish Investors Shouldn’t Get Their Hopes Up By Jeff Clark, editor, Market Minute October 2022 was the best month for the stock market since January 1976. The Dow Jones Industrial Average (DJIA) gained more than 14% in October. It was a bear-crushing rally. And it has raised the hopes of bullish investors as we head into the seasonally bullish period of November and December. Please allow me to crush those hopes… Recommended Link [The #1 Stock of 2022 (Trader Makes Fortune During 2008, 2020, 2022)]( [image]( Instead of getting caught up buying overpriced tech stocks for devastating negative returns… I’ve joined the ranks of the top 1% of wealthy Americans… by [IGNORING 99% of the entire stock market.]( I only trade ONE stock, helping me nail OVER 800 winning trade recommendations! [I’ve used it through the crashes of 2000, 2008, 2020, and 2022 to deliver gains like 373%]( and more – time and time again. I don’t care whether you have $100 in your bank account or $1 million –this single stock has the power to create your dream financial life. I’ll demonstrate HOW to trade it & reveal the ticker symbol and name of the stock, FREE. [>> Simply click here to get all the details. <<]( -- Think about how things looked one month ago. At the end of September, the S&P 500 was trading near 3600 – down from 4300 just six weeks before. That 16% decline created extremely oversold conditions across several key technical indicators. We pointed out how that sort of [setup often leads to at least a short-term bounce](. And that’s what we got in October. But now, conditions have shifted. The key technical indicators that pointed to a bounce last month are now extremely overbought and are warning of a decline. Take a look at the McClellan Oscillators for the NYSE and the Nasdaq (NYMO and NAMO)… [(Click here to expand image)]( [(Click here to expand image)]( These are momentum-based indicators that help determine overbought and oversold conditions. Readings of more than 60 indicate severely overbought conditions and often precede large declines in the markets. Readings of less than -60 express extremely oversold conditions and usually lead to strong bounces in stock prices. Both indicators closed in extremely overbought territory last Friday. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. This is the fifth time in the past year that both the NYMO and the NAMO have been above 60 at the same time. Now, here’s how the S&P 500 performed after the four previous times… [(Click here to expand image)]( The market fell almost immediately following all four of the previous setups. The setup in mid-July led to only a brief, short-term pullback – lasting about one week. The S&P 500 then went on to rally about 10% over the next month into a significant top in mid-August. In the other three previous cases, though, the S&P 500 declined sharply for several weeks – losing, on average, about 700 points. It’s quite possible we’ll see something similar happen this time as well. [Bill Gates, Jeff Bezos & More Billionaires buying $4 Stock]( Traders who bought in late September in anticipation of an oversold bounce should consider taking some profits off the table here. Folks who are looking to put money to work in the market right now, in anticipation of a rally into the end of the year, should probably consider holding off for a bit. We’ll likely have a better buying opportunity in the weeks ahead. Best regards and good trading, [signature] Jeff Clark P.S. Tomorrow evening, I’ll be coming forward with my most timely warning yet, but this time it’s not a prediction… [this massive event is guaranteed to happen](. Many popular stocks could freefall overnight and many people could see their portfolios get slaughtered… But if you’re prepared when the event hits, then this could be your best chance to recoup all the losses you suffered this year. So, join me for my special presentation tomorrow at 8 p.m. ET where I’ll reveal what to do with your portfolio. Just [click here to reserve your spot](. Reader Mailbag In today’s mailbag, a Currency Trader member shares his thoughts on Imre Gams’ new service… Glad to be on board, Imre. You’re doing a great job. Also, great questions from subscribers. Keep the education going. – Daniel L. Thank you, as always, for your thoughtful comments. 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