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7/14/2024 Markets were mostly higher for the week, and the weaker Small Caps (IWM) squirted up on hopes of lower short term Interest Rates. The strong Indices (SPY & QQQ) are Way Above the Green Lines and have probably already discounted the easing of Rates in Sept. by the FED. We know that the Indices will return to the Green Lines again, after this emotional buying stretch of human GREED is complete).
Many are hoping that FED lowering of Rates will help Stocks (very logical). Historically the FED waits too long to ease on Rates. It is very likely that soon the Media will start talking about Earnings revisions lower (another FEAR Flush), and then cause the Markets to correct down on Wave IV. Then a Wave V back up for the strongest Leaders.
Be cautious Buying now, as the Big 7 and Leaders are very over bought from FOMO (Fear of Missing Out).
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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COMPLETED TRADES THIS WEEK:
APH AMPHENOL CORP. Target was Hit at $70 for a 3.9 % Gain.
BILI BILIBILI INC. Target was Hit at $17.50 for an 8.6 % Gain.
CVNA CARVANA CO. Target was Hit at $140 for a 106.4 % Gain (Long Term Portfolio).
EXK ENDEVOUR SILVER Target was Hit at $4.10 for 14.8 % Gain.
JMIA JUMIA TECH Target was Hit at $9 for a 28.5 % Gain.
NVDA NVIDIA CORP. Target was Hit at $135 for a 8.1% Gain.
OCUL OCULAR THERA. Target was Hit at $8 for a small Loss.
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For the week the Dow was up 1.68%, the S&P 500 was up 0.96% and the NASDAQ 100 was down -0.27%. 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 1.02% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were up 1.49% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was down 0.73% for the week and is Below the Green Line.
Crude Oil was down 1.14% for the week at $82.21 and GOLD was up 0.96% at $2420.70.
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DAY TRADERS: We are doing many profitable Day Trades on our Discord Trading Hub (free). Please join Discord or X (Twitter) with 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.
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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 6 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
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LONG TERM WATCH LIST
ATGL Long Term Weekly Watchlist- Click here for scrolling charts.
TRADES THIS WEEK:
AEO AMERICAN EAGLE Weekly Buy Signal was good for a 10.8 % Pop.
CVNA CARVANA CO. Target was Hit at $140 for a 106.4 % Gain (Long Term Portfolio).
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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: Peter W. writes “When you say the RSI should be “ABOVE 90 RS “. I look at your chart and it shows SCTR 90, not RSI. Please clarify.
ANSWER: Hi Peter. We don’t use RSI, which is a technical oscillator. We use Relative Strength compared to the Market:
Q: Where do I find the Relative Strength Factor in StockCharts.com so I can add it to my charts?
A: Relative Strength Values comes from the SCTR Rank (StockCharts Technical Rank), www.etfscreen.com for ETFs , and Investor’s Business Daily (IBD) for stocks. We prefer the longer term weighting used by www.etfscreen.com and IBD. We sometimes use a 155-day avg. of StockCharts’ SCTR, which is at the bottom left of many charts (just below the SCTR Rank) to simulate R S closer to the longer term ranking of IBD ranking.
Good trading, and tell your friends!
ATGL