7/23/2023 Markets were mixed for the week as the Leaders are very extended (Way Above the Green Lines). Historically Smart Money will take profits soon and Wait for a pull back, The strongest Indices and Leaders were able to exceed the recent highs, and negate the possible “M” or Double Top pattern.
Markets are moving up on the hope that Inflation has peaked and that the FED will Stop Tightening (raising short term (interest Rates). The FED has been Printing again since March when the Bank Term Funding Program (BTFP) and so far was pumped $136 BILLION more in since March. This Printing is helping push up Stocks with liquidity.
The NASDAQ 100 Fund is still going up on Wave 3 up , then it should have a 38% correction down near the 50-day avg. (count of 345). Greed and FOMO (Fear of Missing Out) have taken over, so normally there will be some profit taking soon. Currently the CNN Fear & Greed Index up at 82, the Greed Index (SVXY), and the Fear Index (VIX) are all telling Smart Money to take profits and Raise CASH.
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 2.10%, the S&P 500 was up 0.65% and the NASDAQ 100 was down 0.91%. 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 2.10% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were up 0.43% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was up 1.20% for the week and is Below the Green Line.
Crude Oil was up 2.19% for the week at $77.07 and GOLD was up 0.11% at $1966.60.
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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 6 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)
ASRT ASSERTIO HOLDINGS Wait for Weekly Money Wave Close > 20 with High Volume.
EDU ORIENTAL EDUCATION GROUP Closed above $46.63 but the Volume was not High. AVOID.
MGNI MAGNITE INC. Wait for Daily Money Wave Close > 20 with High Volume.
PINS PINTEREST INC. Buy above $30.86 with High Volume with a 3% Trailing Sell Stop Loss below it.
RDFN REDFIN CORP. Wait for Daily Money Wave Close > 20 with High Volume.
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.
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Updated Top 100 List Jul 1, 2023
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Long Term Strategy for IRAs & 401k Plans
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Alert! Market Risk is High (RED). 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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A considerate comment from Duanega:
Your web site is outstanding! You are correct, when you say, if you want to make money in stocks, Follow Above the Green Line, especially when you see a Triple Buy Signal.
Plus I went on my computer and saw how you have expanded so much in the last year. I have been following you for 4 years, and the last 6 months I have followed quite a few trades and done extremely well!!
Thanks, Duanega.
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– ASRT