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5/05/2024 Markets were higher for the week as slower Inflation news caused Bonds to rally up 2.17% (lower long term Rates). The strongest Leaders look like they will retest the highs again, but we need to see some higher highs soon for this rally to continue. The low Buying Volume has been disappointing.
Bonds were up as Commodity prices dropped 3.49% and Crude Oil plunged 6.95%. This indicates a drop in demand and that the Economy is slowing down. The HERD is betting that a slow down would bring more FED Printing, but a slow down can also mean lower profits. iPhone Sales dropped 10% this quarter, which could be an accurate gauge of consumer spending.
The FED has tightened (raised) short term Rates to 5% to try to eliminate Inflation. Historically the FED will blow it by over tightening and then wait too longer to lower Rates. But for 15 years FED Printing has saved the 15 year old Bull Market, so the HERD has placed huge bets on the FED. The difference this time is that FED Printing should normally bring back Inflation.
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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For the week the Dow was up 1.17%, the S&P 500 was up 0.60% and the NASDAQ 100 was up 1.04%. 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 3.49% for the week and is Above the Green Line, indicating Economic Expansion.
Bonds were up 2.17% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was down 0.84% for the week and is Above the Green Line.
Crude Oil was down 6.95% for the week at $78.11 and GOLD was down 1.64% at $2308.60.
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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 3 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.
ARDX ARDELYX IIC. Shot up 36% this week on the Weekly Buy Signal. Target is $9.50. Don’t Buy up here.
IGV SOFTWARE FUND Bought on the Close Friday at $80.87. Target $88 and Stop on Close below the Green Line of $75.81.
IOVA IOVANCE BIO Bought on the Close Friday at $13.63. Target $18 and Stop on Close below the Green Line of $9.59.
SOUN SOUNDHOUND AI Bought on the Close Friday at $4.50. Target $8 and Stop on Close below the Green Line of $3.44.
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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 |
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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.
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5 Ways to Get your Daily Money Wave Email & Trade Alerts:
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- Emailed to your box between 3:45 – 3:50 pm EST.
- Website menu Commentary/Buy/Sell Signals
- Discord Chat. and X (Twitter) @AboveGreenLine are the fastest for Alerts (please set up “mobile notifications”)
- Text messages: Email us your Cell number & phone carrier.
Thank you,
ATGL