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7/28/2024 Markets were mixed for the week, as the Big 7 Stocks and Semiconductors /AI dropped more on profit taking after having huge rallies up this year. We should see a bounce back up on the Big 7 Stocks and the Big Techs that made highs in June (see DELL chart above).
The DOW 30 (DIA) and the Small Caps (IWM) were higher for the week on hopes of lower short term Interest Rates in September. The S&P 500 Index is still trying to hold at the 50-day avg. (bullish), and might go back up soon to retest the highs. Then if the S&P 500 cannot make higher highs, the Markets could correct down on Wave IV. Then a Wave V back up for the strongest Leaders.
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 0.75%, the S&P 500 was down 0.83% and the NASDAQ 100 was down 2.58%. 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 1.06% for the week and is Below the Green Line, indicating Economic Contraction.
Bonds were up 0.08% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was up 0.05% for the week and is Below the Green Line.
Crude Oil was down 1.88% for the week at $77.16 and GOLD was down 0.75% at $2381.00.
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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 5 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:
FLEX FLEX LTD. Weekly Buy Signal was good for a 10 % Pop, and Target was Hit. AVOID.
SG SWEETGREEN INC. Weekly Buy Signal was good for a 6 % Pop.
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Important Links| Top 100 | Stage Chart Investing | CNN Fear & Greed Index |
| Dividend Growth Portfolio | ETF Sector Portfolio | Dogs of the Dow |
| Long Term Strategy | Stage Chart Investing | Articles |
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: Amit writes “Hi, You give the idea of good stocks. No doubt it goes up one day. but most of time I am not able to catch as once you give alert by 1.40 pm MST then it has already popped up. Is this possible for you to send alert early or is there any way to catch it?”
ANSWER: Hi Amit, and thank you for writing. If the Daily Money Wave (Slow Stochastic) looks like it will Close > 20, many will go to the 60-min Chart and try to get in early.
On the 60-min Chart, wait for a Triple Buy Signal (1. Above the Pink Line 2. 60-min Money Wave > 20 3. MACD Buy Signal).
Usually the 60-min Chart will get you a better price. The 60-min Charts are on the Watch List with the Green Circle links.
For the web site we only use Daily Closing Prices for simplicity, which is normally a disadvantage. You can shop for better prices during the day.
Good trading, and tell your friends!