Watchlist and Charts
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6/2/2024 Markets were mixed to lower for the week as the Big Tech Stocks had some profit taking after making new Highs. The Semiconductor & AI Stocks are strong, but are currently very over bought from panic FOMO (Fear of Missing Out) Buying. Example: if you had $2.7 TRILLION today, you could Buy NVIDIA Corp. and earn $42 Billion Annually. Or you could Buy 53 General Motors Corps. and earn $493 Billion Annually. Get it? So after the 10:1 Stock Split on Jun 6th, Smart Money should distribute their shares of NVDA to the Herd and Buy NVDA again closer to the Green Line on the next FEAR Flush.
The 30 DOW Industrial Index was lower as the GDP Growth was revised down to only 1.3%. Parts of the Economy are slower, but then Metals like Copper Gold and Silver have been very strong. This causes indecision and the Markets struggle. Eventually a decision will be made and the broad Markets will move again.
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 down 0.85%, the S&P 500 was down 0.45% and the NASDAQ 100 was down 1.40%. 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 unchanged for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were down 0.94% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was down 0.01% for the week and is Above the Green Line.
Crude Oil was down 0.94% for the week at $76.99 and GOLD was down 0.48% at $2345.80.
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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 (Volume has been consistently low this year). There are 4 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:
GPS GAP INC. The Target was Hit at $27 for a 19% Gain.
MPC MARATHON PETE Weekly Buy Signal. Target $215. EXIT on Close below the Green Line ($159.15).
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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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5 Ways to Get your Daily Money Wave Email & Trade Alerts:
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- Emailed to your box between 3:45 – 3:50 pm EDT.
- Website menu Commentary/Buy/Sell Signals
- Discord Chat. and X (Twitter) @AboveGreenLine are the fastest for Alerts (please set up “mobile notifications”)
- Text messages: Email us your Cell number & phone carrier.
Thank you,
ATGL