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August 13, 2017

Green Line Weekly Aug 13, 2017

SPX Chart
Can the S&P 500 Bounce off the Red Line?

 

08/13/2017:  Markets were down over 1% this week, as the DOW was  2000 points Above the Green Line, and Smart Money finally took some profits. Dumb Money had been Buying on the better than expected Earnings (SELL ON GREAT NEWS), and now they have lost confidence, and some are Selling on Bad News (War talk).

Smart Money looks for Bad News to create opportunities (BUY ON BAD NEWS). Many of the Strongest Leaders that just made fresh New Highs recently, are coming back down into their Green Zones.

When Money Wave Buy Signals occur soon, try to Buy the Leaders that recently made New Highs, and are also still Above the Red Lines (50-day avgs.) They tend to bounce the best.

Crude Oil was mixed for the week, and the US Dollar had a small bounce off New Lows.

 

MONEY WAVE BUYS SOON:    We are currently in 1 logged Open Position,  and there are 11 Investments on the Short Term Watch List.  

Check out the new format of the Watch List,  Portfolio  & Closed Positions… Now with 2 Charts on many Investments.

 

LONG TERM TRADES 

The Funds below are currently out of favor, but historically could possibly Double or more from these lower levels. We are looking for a good Entry Point for these, but need the entire Economy  & Inflation to pick up speed:

DBC   COMMODITY FUND   Waiting for Break Out Above $16.08.
IPI    INTREPID POTASH    Wait for Green Zone on Daily Chart.
JJC     COPPER FUND           Back in Red Zone, and Relative Strength finally got up to 90.
KOL    COAL FUND         Waiting for > 90 Relative Strength.
LL   LUMBER LIQUIDATORS   Wait for Green Zone on Daily Chart.
MDR    MCDERMOTT INT’L.  Waiting for > 90 Relative Strength.
UGA   US GASOLINE FUND   Waiting on Break Out Above $32.03.
VALE   VALE DE RIO       Waiting for > 90 Relative Strength.

 

Click for  Portfolio (Open Positions)  
Click for  Watch List
Click for  Closed Positions

 

Alert! Market Risk is Medium (Yellow 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.

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Tell your Friend about us, and HELP ANIMALS.

 

QUESTION: Paul writes “I have noticed that you have hourly charts with different guidelines.

Is this tipical for just a day trade or can it last several days?”
Thanks,  Paul

ANSWER: Hi Paul! Most use the 60-min Charts to get in early, if it looks like the Daily Chart will have a Money Wave Buy Signal on the Close that day.

Posted By AbovetheGreenLine at 1:51 pm Leave a Comment

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SH Chart
Inverse S&P 500 Fund (SH) will have a Money Wave Buy today.

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