SWING TRADING (SHORT TERM)
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8/09/2024 The S&P 500 was flat on Friday as the stock market’s incredible comeback from Monday’s violent rout faltered a tad. The benchmark was close to wiping out its losses for the week. This week marked the most volatile week of 2024 for the market. The Dow on Monday tumbled 1,000 points, while the S&P 500 lost 3% for its worst day since 2022. Disappointing U.S. payrolls data from the prior week and concerns the Federal Reserve was too late with rate cuts were the main culprits for the selling, along with the unwinding of a popular currency trade by hedge funds.
We have lowered Sell Stops now, and not Selling anything on this Emotional FEAR Flush. The HERD gets scared by the Media and has already forgotten that the FED promised to Cut Rates next month.
Wait for more Buy Signals coming up out of the Green Zones. CHARTS The best moves happen when the S&P 500 Index is also coming up out of the Green Zone. ______________________________________________________________________________
BUYS TODAY 8/09/2024
GLD SPDR GOLD SHARES Swing trade buy but the volume is not high (2-star trade).
HIMS HIMS & HERS HEALTH INC. Swing trade buy but the volume is not high (2-star trade).
BUYS TOMORROW
SLQT SELECTQUOTE INC. Wait for daily money wave to close > 20 with high volume.
Shop for a better price earlier in the day with Triple Buy Signal, on the same day that a Daily Money Wave Buy Signal will occur.
BUYS SOON
KOLD INVERSE 2X NATURAL GAS FUND Money wave must close in the green zone.
SAVA CASSAVA SCIENCES, INC. Money wave must close in the green zone.
SO SOUTHERN CO. Money wave must close in the green zone.
Please be patient and Wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the WATCH LIST.
Many like to Buy the Swing Trades just before the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and up out of the Green Zone). Don’t Buy if the Security has already popped up too much. Money Wave Buy Signals are usually good for a 3-6 % move in a few days.
SELLS TODAY
ADMA ADMA BIOLOGICS INC. Target was hit at $15.10 for a 23.2% gain.
SG SWEETGREEN INC. Target was hit at $34 for a 15.3% gain. Weekly gain of 32.5% (long-term portfolio).
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DAY TRADING SETUPS. Today 6 trades for $490 at our Trading Room. Day Trading Alerts are now being sent out on our Discord Site with Live Chatting. Please install Discord app on your PC or cell for mobile notifications.
Or look for Triple Buy Pops (3 Green Circles). Big Movers today: ADMA +30%, SG +29%, IOVA +23%.
NEW! BANANA HUNT TRADING CHARTS.
Bonds were up today and are Above the Green Line.
Crude Oil was up $0.50 today at $76.69.
MY TRADING DASHBOARD
SWING TRADING CURRENT POSITIONS
DAY TRADING SETUPS
TRADE ALERTS
STAGE CHART INVESTING
GREEN LINE CHARTS AT STOCKCHARTS
ARE YOUR INVESTMENTS ABOVE THE GREEN LINE?
GREEN LINE RULES
ETF SECTOR ROTATION SYSTEM
New TOP 100 LIST Updated Aug 1, 2024
Important Links
Top 100 Stage Chart Investing CNN Fear & Greed Index
Dividend Growth Portfolio ETF Sector Portfolio Dogs of the Dow
Long Term Strategy Stage Chart Investing Articles
* Safer Trades that meet ALL three criteria will be classified as 3 STAR, while trades that only meet two of the three criteria will be flagged as 2 STAR (more risk).
Have a nice weekend!
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– GLD