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September 17, 2017

Green Line Weekly Sep 17, 2107

SPX Chart
A Rising Wedge can be Bearish Short Term.

 

09/17/2017:  Markets were up for the week, as the major Indices bounced up off their Red Lines (50-day avgs.) about 2 weeks ago.  Many Indices were able to make New Highs. so Money is not leaving the Markets.

Most Funds are back up in the Red Zones, so Nimble traders should be raising Cash. This is a frustrating Market, as the Trump Rally has not corrected much since November, but is clearly weakening internally. Currently with Interest Rates so low, Stocks do not have any competition, but historically that will change.

The Money Wave Buy Signals are the Strongest, High Volume investments available (based on Relative Strength), The poor bounces of most Money Wave Buys recently indicates a very tired and over-bought Market. A quick Sep -Oct dump to the Green Lines would be better for Short Term Trades.

The weak US Dollar and low Interest Rates could indicate that the HOPE in Stocks is emotionally over-done, and a slowing Economy.

Crude Oil was up 5.1% for the week, and GOLD was down $26.00.

___________________________________________________________________________________________

 

MONEY WAVE BUYS SOON:    We are currently in 1 logged Open Positions,  and there are 5 Investments on the Short Term Watch List.  

______________________________________________________________________________________________

 

LONG TERM TRADES 

The Funds below are currently out of favor, but historically these could possibly Double or more from these lower levels. We are looking for a good Entry Point for these, but need the entire Economy  & Inflation to pick up speed:

BITA   BITA HOLDINGS   Wait for Green Zone on the Weekly Chart.
DBC   COMMODITY FUND   Waiting for Break Out Above $16.08.
JJC     COPPER FUND           Back in Red Zone, but Relative Strength finally got up to 90.
KOL    COAL FUND         Wait for Green Zone on Daily Chart.
LL   LUMBER LIQUIDATORS   Wait for Green Zone on Daily Chart.
REMX   RARE EARTH FUND   Wait for Green Zone on Daily Chart.
UGA   US GASOLINE FUND   Waiting on Break Out Above $32.03.
VALE   VALE DE RIO     Break Out Above $11.39 on High Volume.

___________________________________________________________________________________________

Click for  Portfolio (Open Positions)  
Click for  Watch List
Click for  Closed Positions

 

Alert! Market Risk is Medium (Red Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.

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Posted By AbovetheGreenLine at 12:57 pm Leave a Comment

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SH Chart
Inverse S&P 500 Fund (SH) will have a Money Wave Buy today.

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