5/14/2023 Markets were slightly lower again this week, as investors are having trouble deciding about the Economy. Most Strong companies that are growing quickly are doing fine, but most are extremely over bought. And many weak Stocks that are Below the Green Line are still getting crushed.
Many are hoping that the FED has finished Tightening, and the Economy will pick up speed. The S&P 500 has stalled at Resistance of 4195, and needs to exceed that for more Market upside. But the FEAR Index (VIX) is under $17, telling us that Dumb Money is now panic Buying call options (expecting a huge rally).
We will continue to Buy strong investments on pull-backs, and not worry about it. Low Volume is the only concern.
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.
_____________________________________________________________________________________________
For the week the Dow was down 1.05%, the S&P 500 was down 0.25% and the NASDAQ 100 was up 0.66%. Most of the major Indices have a Relative Strength below 80, so you should currently own the stronger Securities here.
The Inflation Index (CRB) was down 1.41% for the week and is Below the Green Line, indicating Economic Contraction.
Bonds were down 0.59% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was down 1.50% for the week and is Below the Green Line.
Crude Oil was down 1.82% for the week at $70.04 and GOLD was down 0.25% at $2019.80.
We are now doing micro Day Trades on our new Discord site (free), and now have 213 members. Please join for mobile notifications during the day. Other methods of notification have been too Slow. Also, please check our our Live Streaming on YouTube during Market hours.
More action this week on the Day Trading Scrolling Charts, and DAY TRADING CHARTS FOR INDICES & LARGE CAPS.
_____________________________________________________________________________________________
MONEY BUYS SOON:
We are in now in 6 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!
LONG TERM INVESTMENTS:
Long Term Scrolling Charts (Real Time)
CHWY CHEWY INC. Buy above $52.88 with High Volume with a 3% Trailing Sell Stop Loss below it.
EDU ORIENTAL EDUCATION GROUP Buy above $46.63 with High Volume with a 3% Trailing Sell Stop Loss below it.
IQ iQIYI INC. Buy above $6.26 High Volume with a 3% Trailing Sell Stop Loss below it.
PINS PINTEREST INC. Buy above $29.27 with High Volume with a 3% Trailing Sell Stop Loss below it.
SH INVERSE S&P 500 FUND Buy above $17.71 with High Volume with a 3% Trailing Sell Stop Loss below it.
SHOP SHOPIFY INC. Broke Out this week above $54.67. Wait for the next Daily Money Wave Buy Signal.
STLD STEEL DYNAMICS INC. Buy above $105.85 with High Volume with a 3% Trailing Sell Stop Loss below it.
TAL TAL EDUCATION GROUP Buy above $10.45 with High Volume with a 3% Trailing Sell Stop Loss below it.
__________________________________________________________________________________________
My Trading Dashboard
Swing Trading Scrolling Charts
Day Trading Scrolling Charts
Click for Watch Lists
Click for Current Positions
Click for Closed Positions
Updated Top 100 List May 1, 2023
Dividend Growth Portfolio
Updated ETF Sector Rotation System
Dogs of the DOW System
Long Term Strategy for IRAs & 401k Plans
CNN Fear & Greed Index
Scrolling Stage Chart Investing Charts
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.
________________________________________________________________________________
QUESTION: Steve V. writes “Do you do both long and short positions or does someone just invert the rules in a down market?”
ANSWER: Yes, invert the Rules to Sell Short (Below G L, Below 10 R S, Dropping below 80 on Money Wave).
We will wait until the Market is in a Bear (below the Green Line).
Once the Market is BEAR, we will manly do Inverse Funds, as most don’t understand Shorting…
Good trading and tell your friends!
ATGL
Related Post
– CHWY
[…] post Green Line Weekly May 14, 2023 appeared first on Above The Green […]