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6/23/2024 Markets were slightly higher for the week, but closed weaker. The Leading AI / Semi Stocks and Big 7 Stocks had some profit taking from being so over bought. The S&P 500 Index chart looks like the Wave III up rally from the Oct low is about over, then a Wave IV correction down (5 Waves total).
Bonds are also over bought, so long term Interest Rates could pop up for a while. Stocks normally won’t like that. The Strongest Stocks now are very over-bought, because many are betting that the FED will begin Printing sooner (lowering of short term Interest Rates).
Be cautious Buying now. There will be some Bad News that will create FEAR, which is when we like to Buy.
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:
CLSK CLEANSPARK INC. The Target was Hit at $20 for a 24.3% Gain. (2 Trades).
DELL DELL TECH The Target was Hit at $160 for a 23.1 % Gain.
TCOM TRIP.COM GROUP Slipped below Support for a -3.76% Loss.
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For the week the Dow was up 1.49%, the S&P 500 was up 0.64% and the NASDAQ 100 was up 0.21%. 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 0.28% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were down 0.75% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was up 0.26% for the week and is Above the Green Line.
Crude Oil was up 3.43% for the week at $80.73 and GOLD was down 0.76% at $2331.20.
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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 2 Three Star logged Swing Trading Positions for the Short & Medium Term. There are 7 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.
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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: Stan writes ” Do you ever Sell Investments Short?”
ANSWER: Hi Stan, as long at the major Indices are in up-trends we will not Short, as most Followers don’t understand Selling Short. We will use Inverse Funds when they meet the Green Line Rules.