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5/012/2024 Markets were higher for the week as Bonds rallied higher (lower long term Rates) on slower Inflation news . The strongest Leaders are quickly back up retesting the highs again. We need to see some higher highs also on the Stock Indices for this rally to continue. The low Buying Volume and the high Greed levels are concerning.
Many are betting that Inflation will peak soon, and then the FED will lower short term Rates, and then hope the Markets will go to the moon. This is very logical, but many times the Markets are NOT logical, and will do the opposite of what most expect,
Lower Inflation could also mean a slower Economy and possibly lower profits. But we Buy the strongest Leaders on pull-backs, so we will continue the Green Line System which normally works in all types of Market.
We Buy the strongest Leaders on pull-backs. 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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Completed Trades this week:
AMZN AMAZON.COM Target was Hit for a 3% Gain.
AXP AMERICAN EXPRESS Target was Hit for a 2.6% Gain.
GBTC BITCOIN FUND Slipped down to Buy Price and was Stopped Out even.
GCT GIGACLOUD TECH Target was Hit for a 18.2% Gain.
HOOD ROBINHOOD MKTS. Target was Hit for a 16.5% Gain.
JMIA JUMIA TECH Target was Hit for a 37% Gain.
SOUN SOUNDHOUND AI Returned back up to Buy Price and was Sold at break even.
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For the week the Dow was up 2.17%, the S&P 500 was up 1.87% and the NASDAQ 100 was up 1.51%. 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 1.03% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were up 0.31% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was up 0.24% for the week and is Above the Green Line.
Crude Oil was up 0.19% for the week at $78.26 and GOLD was up 2.88% at $2375.00.
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DAY TRADERS: We are doing many micro Day Trades on our Discord Trading Hub (free). Please join Discord & 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.
More action this week on the Day Trading Scrolling Charts, and Day Trading Charts for Indices & Large Caps.
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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 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.
AMD ADVANCED MICRO Bought on the Close Friday at $151.92. Target $210 and Stop on Close below the Green Line of $139.26.
GPS GAP INC. Bought on the Close Friday at $22.76. Target $27 and Stop on Close below the Green Line of $17.33.
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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: Jose M writes “Morning, I seem to have difficulties on finding the Money Wave chart on the ETFs . Thanks.”
ANSWER: The Charts and Money Waves can be pulled up by clicking on the Symbol of the Investment on the Watch List or PORTFOLIO links in every Daily Email Alert.
The Money Wave is the Red and Green Zone on the bottom part of the Chart (Same as Slow Stochastic). Buy when the Money Wave has gone down into the Green Zone, and then turns up above 20. A Black Arrow indicates a Money Wave Buy Signal.