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8/26/2021 - NEoWave Staff

ALERT: More signs a MAJOR TOP is forming

On the morning of Thursday, August 26, 2021, Glenn Neely released this update to his NEoWave Trading and Forecasting subscribers. We are sharing it here for anyone concerned about successful trading and Wave forecasting in this wild market environment.

From the desk of NEoWave founder, Glenn Neely

More Signs a MAJOR TOP is Forming

The following 2 charts contain information sent to me by a great, long-term client and friend.

The first chart shows Short Interest is as low as it was in the year 2000 at the height of the dot-com bubble (right before the Dow, S&P, and Nasdaq dropped 50%, 60%, and 70% respectively).
The second chart shows Wall Street is issuing stock at a rate not seen in decades - a sign stock buying has captured the public's imagination and a clear indication "distribution" is underway, which takes place before prolonged market declines.

As the old saying goes, "markets can remain irrational longer than you can remain solvent." So it's possible a greater level of public-buying could temporarily push the markets higher BUT, independent of how high prices go, the time-window is quickly closing. Protect your portfolio (or lighten up positions) to avoid getting caught in a melt-down.

CHART 1

Short Interest Chart for August 26, 2021 alert

CHART 2

Wall Street Chart for August 26, 2021 alert

Sincerely,
Glenn Neely
NEoWave, Inc.
www.NEoWave.com

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