05/27/2018: Markets were up slightly for the week, as the S&P 500 has been churning sideways between 2700 and 2742 for about 3 weeks. Soon a decision will be made.
The major Indices are Above the Red Lines (50-day avgs.) and could re-test the Highs in a month or two. Closing Below the Red Lines would be “Bearish”. The Long Term Trend is UP.
The Strong Energy Sector is correcting back down to the Green Zones for Money Wave Buys soon.
The Inflation Index (CRB) made New Highs this week but Closed weaker at 203.34, and is in a mild Up-Trend.
Bonds had a big rally off of Final Support, but are still bearish (Below the Green Line and Low Relative Strength).
The US DOLLAR had a big run and is back Above the Green Line, but over-bought.
Crude Oil was down 4.89% for the week at $67.88, and GOLD was up 0.96%.
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MONEY WAVE BUYS SOON:
We are currently in 3 logged Open Positions, for the Short & Medium Term. Most of the Leading Investments are back up in the Red Zones. There are 7 Investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buys!
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LONG TERM TRADES
The Funds below are correcting down to their Green Lines, but the Relative Strength is remaining high. These tend to Bounce nicely when the weekly Money Wave crosses up > 20.
ITB HOME BUILDING FUND Wait for Daily Close above $39.61.
REMX RARE EARTH FUND Wait for Daily Close above $28.62.
SGMO SANGAMO THERA Wait for a Daily Close above $16.60, then use Green Line as Sell Stop.
TCEHY TENCENT HOLDINGS Wait for next Daily Money Wave Buy Signal.
WB WEIBO CORP. Wait for weekly Close Above the Red Line (50-day avg.)
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