09/14/2016: Markets closed weak after a small rally in the morning… Maybe a little bit lower, but lots of Leaders are in the Green Zones, waiting for Money Wave Buys.
Money Wave Buys Today: SINA was the only one today, but there should be several more soon.
If you Bought WATT yesterday, please put a very TIGHT SELL STOP LOSS on it as it is 21 % off the Swing Low Support, and yesterday’s Money Wave Buy price was very High!
We are watching AMD AG CDE EWZ GDX HPE PE SLV & WPX to Buy soon. We will email you when they are ready. Charts for Leaders Watch List Page
Q&A from Tuesday:
Questions regarding yesterdays market 9/12/16. The markets found buyers exactly where you indicated at 2130(2134) level August 15 high support. The market then near and at the close acted like it wanted to go higher….closing near the high of the day. Your comment last night indicated the market may go back down to retest today which it has and so far has gone down further. What gave you the clue that the market would go down and retest rather than go higher. Was it the bounce off the bottom(resistance) of the 50 d MA intraday ?
Many thanks, Tom
Answer:
Smart Money does not try to catch a falling knife… Yesterday’s bounce was Short Covering (profit taking) and Bottom Fishing (they don’t have much $$$)… Smart Money waits for a re-test of a Dump… If today holds above yesterday’s low, many will buy. Semis (SMH) are not coming down much at all today. Semis are a LEADER…