08/16/2020 Markets were up slightly again for the week as the S&P 500 Index is only 0.2% from the All Time High in Feb. There would normally be plenty of Sellers up around the Feb Highs (Resistance), so a pullback down to the 50-day average or below could create a “Cup & Handle” Pattern back up. Or the Markets could be forming a massive “Double Top” of the 11 year Bull Market (Bearish). We will have to wait and see.
The biggest change this week was that the Long Term T-Bonds dropped 3.94% this week, so the Interest Rate rose from 1.23% Yield to 1.44% Yield (+17.3%) in a week. Normally a stronger Economy would normally cause Long Term Interest Rates to go up (Bonds would Sell off). Rising Long Term Interest Rates could hurt many industries like Housing.
Those hoping for a big rally up from here will probably be disappointed. It would be healthier for the Markets to pull- back 5% or more, but the Markets seem to be waiting on more Covid Stimulus Money and then Sell off on the Good News. The PENNY STOCK WATCH LIST
has many Green Zones Buy Signals soon that are 50-80% off the recent Highs, as many Buyers seemed to have temporarily run out of Stimulus Money.
We like to Buy Investments that have recently made New Highs, on pullbacks. These are NASDAQ 100 (QQQ), Semiconductor Fund (SMH), BioTech Fund (XBI), Internet Fund (FDN) & Retail Fund (XRT), but they are currently over bought (so we wait for pullbacks). Gold Miners (GDX), Gold Fund (IAU), and Silver Fund (SLV) are pulling back now.
For the week the Dow was up 1.89%, the S&P 500 was up 0.64%, and the Nasdaq 100 was up 0.25%. The Long Term Trend for the Indices is up.
The Inflation Index (CRB) was up 1.60% and is Below the Green Line, indicating Economic Weakness.
Bonds were down 3.94% for the week and are Above the Green Line, indicating Economic Weakness.
The US DOLLAR was down o.20% for the week and is Below the Green Line.
Crude Oil was up 1.92% for the week at $42.01 and GOLD was down 3.86% at $1949.80.
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MONEY WAVE BUYS SOON
We are currently in 2 logged Current Positions, for the Short & Medium Term. There are 11 Investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
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LONG TERM INVESTMENTS (Most of the Leaders are back up in the Weekly Red Zones.)
Buy the Leading Investments that are down near the Weekly Green Zones.
AUY YAMANA GOLD Wait for Money Wave Buy Signal soon. All time High is $18.50.
FCEL FUELCELL ENERGY INC. Buy if it Closes above $3.42 on High Volume. All time High is $682.00.
GPRO GOPRO INC. Buy if it Closes above $5.79 on High Volume. All time High is $98.00.
KIRK KIRKLAND’S INC. Wait for the next Daily Money Wave Buy. All time High is $29.50.
NK NANTKWEST INC. Wait for a Close above the Pink Line. All time High is $35.00.
RIOT RIOT BLOCKCHAIN INC. Wait for the next Daily Money Wave Buy. All time High is $46.20.
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Dividend Growth Portfolio (we are now posting a Dividend Calendar for the entire portfolio to assist with planning purposes).
ETF Sector Rotation System – New Quarterly Rotation was on June 30 & July 1, 2020.
Long Term Strategy for IRAs & 401k Plans
Alert! Market Risk is HIGH (Red Zone). The probability of successful Short Term Trades is better, when the % of stocks above the 50-day avg. is below 20.
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QUESTION: Boruch L. writes : A question please, at about 3:45 PM I get an email that will list buys a/o sells that day. Is there any way I could know about the buys or sells as they occur in real time? Thanks,
ANSWER: We currently have 1 email going out Daily, the Money Wave Avert! which is sent between 3:40 -3:50 EST.
We are sending out some Day Trading Tweets on Twitter @AboveGreenLine on Twitter
Many follow the Watch List and Penny Stock Watch List and Current Positions for Sell Stops during the day, as they are constantly being updated.
Thank you.