07/21/2019: Markets were down for the week, as most of the major Indices and Leaders were up in their Red Zones (probably too late to Buy for the Short Term). So far the Selling has been minimal as many Investors are expecting the FED to cut Interest Rates 1/4 point on July 31. The S&P 500 Index should have good Support at the May Highs of 2954.
Most of the Leaders are not pulling back much when they return to their Green Zones, which indicates that the Buyers still have money and they currently have no FEAR.
For the week the Dow was down 0.65%, the S&P 500 was down 1.23%, and the Nasdaq 100 was down 1.30%. The Long Term Trend on the Stock Markets is UP.
The Inflation Index (CRB) was down 3.13% and is Below the Green Line, indicating Economic Weakness.
Bonds were up 1.13% for the week and are Way Above the Green Line, indicating Economic Weakness.
The US DOLLAR was up 0.38% and it could be having a huge Double Top from 3 years ago.
COMPLETED TRADES THIS WEEK: NONE
MONEY WAVE BUYS SOON:
Be patient and WAIT for Green Zone Buy Signals!
LONG TERM INVESTMENTS
Buy the Leading Investments that are down near the weekly Green Zones.
HZNP HORIZON PHARM. Wait for Weekly Close Above the Red Line of $24.37.
IONS IONIS PHARM. Try to Buy near the Red Line around 66.83.
RAMP LIVE RAMP HOLDINGS Wait for Weekly Close Above the Red Line of $50.83.
VMW VMWARE INC. Wait for next Daily Green Zone Buy.
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.
Tell your Friends about the Green Line, and Help Animals
QUESTION: Peter W. writes “When you say the RSI should be “ABOVE 90 RSI “. 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!