Is Anyone Still Buying the Dip?

What happened to all the folks who wanted to “buy the dip?” [Jeff Clark's Market Minute]( Jeff’s Note: My colleague, Imre Gams, has spent the past 15 years honing his skills as a trader. Many high-net-worth individuals have paid him a small fortune just for a weekend of training. Now, he wants to make these strategies [available to everyone]( – no matter their experience. His goal is to help ordinary people think like top traders, and profit like them, too. To learn more, make sure to tune into his free strategy session on August 23 at 8 p.m. ET [right here](. --------------------------------------------------------------- Is Anyone Still Buying the Dip? By Jeff Clark, editor, Market Minute What happened to all the folks who wanted to “buy the dip?” After the first significant dip in the market since the February decline, the dip buyers have disappeared. And that’s the main problem with the “buy the dip” philosophy... When it comes time to buy, you won’t want to. But, this week’s sell off in the broad stock market is giving traders an excellent opportunity to buy in anticipation of at least a short-term bounce. Technical conditions are now so stretched to the downside, that the risk/reward setup now favors the buyers. Take a look at the following charts of the NYSE and NASDAQ McClellan Oscillators… These oscillators simply measure overbought and oversold conditions. For our purposes today, we’ll look at only the “oversold” setups. The NYMO and NAMO are oversold when they are below the absolute level of -60. They are also oversold when they trade below their lower Bollinger Bands. Recommended Link [“You need at least $100 of this asset – and it’s NOT gold” – Dr. Nomi Prins]( [image]( $100 is all you need… Former Goldman Sachs managing director Dr. Nomi Prins has identified an investment she’s calling ‘the world’s hardest asset’ – and she’s recommending it to friends, family, and followers. She’s talked about it on podcasts… live TV… and in her newest, bestselling book, Permanent Distortion. Dr. Prins says: “This asset has nothing to do with gold or silver, but it has many of the same features to protect your wealth – and preserve your privacy.” As the turbulence in our world grows worse and worse… [Click here now to see what Nomi is recommending before it’s too late.]( -- It’s rare for them to be below both of those conditions. It’s rarer still for both oscillators to be below both of those conditions at the same time. In fact, the last time it happened was in mid-March. And, that proved to be an excellent buying opportunity. Back in March, the S&P 500 had been declining for about six weeks. It had fallen 300 points, from 4170 to 3870. The NYMO and NAMO both stretched deep into extremely oversold territory. 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. One month later, the S&P 500 had recovered its entire decline. Today, the NYMO and NAMO are in the same condition as they were in March. They’re both below their lower Bollinger Bands, and they’re both below -60. This is happening after the S&P 500 has fallen 200 points in less than three weeks. Admittedly, I am intermediate-term and longer-term bearish on the broad stock market. There are fundamental issues that are likely to cause stock prices to languish for many months and years to come. But, that’s a topic for another day. For now, with the proverbial rubber band stretched so far to the downside, I have to be bullish. Traders should be buying this dip. They’ll likely be well rewarded in the weeks ahead. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG How has buying the dip worked out for you in this market? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [The only stock to keep (revealed below)]( Jeff Clark has been trading stocks for nearly 40 years. He knows the market. He predicted the crashes of 2008, 2020, and 2022. He’s helped his readers avoid huge losses… And still had 13 gains last year alone. He’s done it by avoiding 99.9% of all stocks… Only trading this one, [revealed in this video below.]( Now Jeff is helping his 23-year-old son overcome his huge losses in crypto and tech stocks… By using this same method. 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