DOW is now stretched after Bouncing off Green Line.
11/23/2016: Markets were up again today, as Trump Honeymoon Rally continued. Caution! Tammy is feeling great, and panic Buying… three weeks ago she was Selling on FEAR, at the Green Line. The Leading Funds are back up in the Red Zones (probably too late to Buy for the short term), so RAISE CASH.
The US Dollar made a 13 year High today, and Bonds dropped further. The Steel Index (SLX) made a high, but Gold Miners fell back down to a 60% Retracement Level.
Now is the time to have patience & WAIT for Money Waves to return to their Green Zones.
Wait for Money Waves Buys soon. We will email you when they are ready. Watch List
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Alert! Market Risk HIGH (Red Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
QUESTION from Tony:
GDXJ’s SCTR (StockCharts Technical Rating) is 3, not 88, which doesn’t meet your criterion.
ANSWER: Yes Tony, the SCTR Rank is 3. We prefer to use the Relative Strength from www.ETFscreen.com as it is weighed more to the last year. SCTR is weighted more to the last few months.. we use it mainly because it is conveniently on the Charts.