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2/11/2024 Markets were higher again for the week as the Big 7 stocks made higher highs, but now has narrowed down to the Big 4 (AMZN META MSFT & NVDA. Also many of the S&P 500 stocks are slipping below the 50 day averages.
Last month 90% of the S&P 500 stocks were above the 50-day averages, but now only 63% are still above (see chart above). Historically this would indicated that the Rally since late October is tired, and will eventually correct. The CNN Fear & Greed Index is at Extreme Greed 78.
The weaker Small Caps (IWM), ARKK Fund & Transports are clearly inferior now.
We Buy the Leaders on pull-backs. Greed is high now, so be cautious. There are only 3 Securities on the Watch List. Investments will meet again with their Green Lines. Remember, we like to Buy on Bad News like in late October, and take profits on Good News (Great Earnings now).
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 up 0.08%, the S&P 500 was up 1.39% and the NASDAQ 100 was up 1.87%. 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 up 2.47% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were down 2.31% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was up 0.20% for the week and is Above the Green Line.
Crude Oil was up 6.31% for the week at $76.84 and GOLD was down 0.73% at $2038.70.
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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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MONEY BUYS SOON:
We are now in 5 logged Swing Trading Positions for the Short & Medium Term. There are 3 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)
CLSK CLEANSPARK INC. Weekly Money Wave Buy Signal was good for for a 68% Pop up this week. AVOID now.
COIN COINBASE GLOBAL Money Wave Buy Signal was good for for a 9.88% Pop this week.
CVNA CARVANA CO. Buy above $62.59 with High Volume with a 3% Trailing Sell Stop Loss below it.
DOCU DOCUSIGN INC. Buy above $69.45 with High Volume with a 3% Trailing Sell Stop Loss below it.
FSLY FASLEY CORP. Buy above $24.96 with High Volume with a 3% Trailing Sell Stop Loss below it.
KOPN KOPIN CORP. Buy on Close above $2.50 with High Volume with a 3% Trailing Sell Stop Loss below it.
MSOS CANNIBIS FUND Wait for Daily Money Wave Close > 20 with High Volume.
NET CLOUDFLARE INC. Bought above $87.17 and Target was Hit at $115 for a 27.3 % Gain.
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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: John C. writes “Hi. I have been using your methods with quite good success over the past year, but lately I have been wondering something. Sometimes you post a daily chart for a company, but other times you post a weekly chart. For swing/momentum trading, which chart is best to go by, because looking at both, side to side, the Money Waves are quite different.
Many thanks, John C.
ANSWER: Hi John. The Green Line System is based on Buying the Leaders in the Green Zone, and taking Profits in the Red Zone.
The Daily Chart cycle usually takes 1-3 weeks and the Weekly Chart takes 1-3 months. If you Buy the Weekly, don’t look at the Daily, as the Daily will cycle thru many times and be confusing. Pick only 1 Time Frame, and stick with it.
Many will use a shorter term Time Frame for ENTRY only, then go back to your Main Chart decision.
Thanks for writing.
ATGL
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– CLSK