8/6/2023 Markets were lower for the week as Treasury Bonds dropped from a ratings downgrade. Bonds were downgraded because Congress keeps borrowing money and the US Balance Sheet is in bad shape. This caused long term Interest Rates to rise, hurting the Big Tech stocks.
The strongest Indices and Leaders could not make higher highs this week, so Selling came in as the Leaders were very extended (Way Above the Green Lines). But now the S&P 500, NASDAQ 100 and Tech Funds are quickly back down in the Green Zones for quick Swing Trades back up.
Longer term the NASDAQ 100 Fund might be completing Wave 3 up , then it should give up about 3/8 of the Wave 3 rally, down near the 50-day avg. (count of 345) on Wave 4 down. Then normally a Wave 5 up that should exceed Wave 3.
If you continue to Follow the Green Line System, your Money 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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For the week the Dow was down 1.08%, the S&P 500 was down 2.21% and the NASDAQ 100 was down 2.98%. 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 0.37% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were down 3.02% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was up 0.43% for the week and is Below the Green Line.
Crude Oil was up 2.78% for the week at $82.82 and GOLD was down 1.19% at $1976.10.
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We are now doing micro Day Trades on our new Discord site (free). Please join Discord on your cell phone app for mobile notifications during the day. Other methods of notification have been too slow. Also, please check our our Live Streaming 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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MONEY BUYS SOON:
We are in now in 5 logged Swing Trading Positions for the Short & Medium Term. There are 9 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
LONG TERM INVESTMENTS:
Long Term Scrolling Charts (Real Time)
HIMS HIMS & HERS HEALTH Buy above $8.99 with High Volume with a 3% Trailing Sell Stop Loss below it.
OSTK OVERSTOCK.COM Buy above $39 with High Volume with a 3% Trailing Sell Stop Loss below it.
PINS PINTEREST INC. Buy above $30.86 with High Volume with a 3% Trailing Sell Stop Loss below it.
SH INVERSE S&P 500 FUND Buy above $17.71 with High Volume with a 3% Trailing Sell Stop Loss below it.
STNE STONECO LTD. Buy above $15.01 with High Volume with a 3% Trailing Sell Stop Loss below it.
TAL TAL EDUCATION GROUP Buy above $10.45 with High Volume with a 3% Trailing Sell Stop Loss below it.
VKTX VIKING THERA. INC. Wait for Weekly Money Wave Close > 20 with High Volume.
W WAYFAIR INC. Wait for Daily Money Wave Close > 20 with High Volume.
WW WEIGHT WATCHERS INT’l. Buy above $12.13 with High Volume with a 3% Trailing Sell Stop Loss below it.
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My Trading Dashboard
Swing Trading Scrolling Charts
Day Trading Scrolling Charts
Click for Watch Lists
Click for Current Positions
Click for Closed Positions
Updated Top 100 List Aug 1, 2023
Dividend Growth Portfolio
Updated ETF Sector Rotation System
Dogs of the DOW System
Long Term Strategy for IRAs & 401k Plans
CNN Fear & Greed Index
Scrolling Stage Chart Investing Charts
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 Green Line, Below 10 Relative Strength, Dropping below 80 on Money Wave).
Once the Market is in a BEAR (Below the Green Line, we will mainly do Inverse Funds, as most don’t understand Shorting…
Good trading and tell your friends!
ATGL
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– OSTK
