The broad Market (S&P 600) is now much better Value than Big 7 Stocks (S&P 100).SWING TRADING (SHORT TERM)
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4/28/2024 Markets were higher for the week as the 3 week downward correction ended, and Buying came in. The strongest Leaders look like they will retest the highs again, but we need to see some higher highs soon for this rally to continue. The low Buying Volume has been disappointing.
Bonds were still down on more Inflation worries. The FED has already tightened (raised) short term Rates to 5% to try to eliminate Inflation. But with massive borrowing and spending by Congress, the FED’s efforts have been futile.
Free Markets will always fix themselves, so Bonds are dumping to FORCE the FED and Congress to fix the excess supply of liquidity in the Economy (Inflation). Eventually high Rates and Commodity Prices will slow the Economy and Inflation down.
We Buy the strongest Leaders on pull-backs. If you continue to Follow the Green Line System, your Account should flow into the Strongest areas and your Account value should be able to grow in both Bull and Bear Markets. Follow the MONEY, not the MEDIA.
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Completed Trades this week:
BITO BIT-COIN FUND Stopped Out at break even (Don’t Take a Loss!)
CAVA CAVA GROUP Stopped Out at $69 for an 8.3% Gain.
GPS GAP INC. Stopped Out at $20.03 for an 4.7% Loss.
CLSK CLEANSPARK INC. Target was Hit at $19 for a 19.7 % Gain.
RYCEY ROLLS ROYCE Stopped Out at break even (Don’t Take a Loss!)
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For the week the Dow was up 0.66%, the S&P 500 was up 2.65% and the NASDAQ 100 was up 3.94%. Many of the major Indices still have a Relative Strength below 80, so you should currently own the stronger Funds here.
The Inflation Index (CRB) was down 0.44% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were down 1.02% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was down 0.17% for the week and is Above the Green Line.
Crude Oil was up 1.98% for the week at $83.85 and GOLD was down 2.76% at $2347.20.
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We are doing many micro Day Trades on our new Discord Trading Hub (free). Please join Discord on your cell phone app for the fastest Trade Alerts and Daily email notifications during the day. Other methods of notification have been too slow. Also, please check our our Live Trading Room on YouTube during Market hours.
More action this week on the Day Trading Scrolling Charts, and Day Trading Charts for Indices & Large Caps.
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SWING TRADE BUYS SOON:
We are now in 3 Three Star logged Swing Trading Positions for the Short & Medium Term. There are 0 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
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ATGL Long Term Weekly Watchlist- Click here for scrolling charts.
PLTR PALANTIR TECH Bought on the Close Friday at $22.52. Target $26.75 and Stop on Close below the Green Line of $18.10.
SVIX Inverse VIX Fund (Greed Index) Bought on the Close Friday at $39.85. Target $42 and Stop on Close below the Green Line of $32.10.
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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 |
Alert! Market Risk is Medium (YELLOW). The probability of successful Short Term Trades is better, when the % of stocks above the 50-day avg. is below 20.
Tell your Friends about the Green Line, and Help Animals.
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QUESTION: Steve V. writes “Do you do both long and short positions or does someone just invert the rules in a down market?”
ANSWER: Yes, invert the Rules to Sell Short (Below the G L, Below 10 R S, Dropping below 80 on Money Wave).
We will wait until the Market is in a Bear (below the Green Line), and not Short the next Correction back down to G L.
Once the Market is BEAR, we will mainly do Inverse Funds, as most investors don’t understand Shorting, and cannot Short in their Retirement Accounts.
The Leaders should have nice pops up if they hold above the G L after the next Correction, and we don’t like to Sail into the Wind (Upward Trend).
Good trading and tell your friends!
ATGL