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3/11/2024 Markets were mostly lower for the week as the Semiconductors & stronger Tech Stocks finally ran into some profit taking. Now the Markets must go back up and make higher highs soon, or they could correct back down to the Red Lines (50-day avgs.)
The Stock Indices are stretched Way Above the Green Lines on FOMO (Fear of Missing Out). We are raising CASH now, as we know from history that the Indices will meet again the Green Lines on the next FEAR Flush by the Media (to scare out investors who are Buying now).
We Buy the strongest Leaders on pull-backs. We like to Buy on Bad News like in late October, and take profits on Good News (like on Great Earnings now).
If you continue to Follow the Green Line System, your Account 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 0.22% and the NASDAQ 100 was down 1.55%. 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 0.18% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were up 1.33% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was down 1.07% for the week and is Below the Green Line.
Crude Oil was down 2.45% for the week at $78.01 and GOLD was up 4.28% at $2185.50 a new high.
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We are doing many micro Day Trades on our new Discord Trading Hub (free). Please join Discord on 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.
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 now in 3 Three Star logged Swing Trading Positions for the Short & Medium Term. There are 5 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
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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 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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QUESTION: Peter W. writes “When you say the RSI should be “ABOVE 90 RS “. 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 or S&P 500 Index.
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!
ATGL