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9/08/2024 Markets were sharply lower for the week as the S&P 500 Index hit Resistance of the July high. Normal profit taking came in at the high and the Selling Volume was low (Bullish). It would have been stronger if the S&P 500 was able to hold above the Red Line (50-day avg.).
The Big 7 Stocks, Tech, and AI / Semiconductors have been under heaving Selling pressure as the MEDIA is now scaring investors that a slow down is coming. But last Month the MEDIA had the HERD panic buying AI Stocks & Techs on the Highs.
FEAR is high again, and that is when we like to Buy. Many have already forgotten that the FED is going to Cut Rates later this month.
Remember, we Buy the Leaders that make new highs, on pull-backs. So follow the Green Line System and you should continue to win more than you lose. SEE WATCH LIST
With 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.
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For the week the Dow was down 2.82%, the S&P 500 was down 4.14% and the NASDAQ 100 was down 5.79%. 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 3.67% for the week and is Below the Green Line, indicating Economic Contraction.
Bonds were up 3.52% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was down 0.47% for the week and is Below the Green Line.
Crude Oil was down 7.99% for the week at $67.67 and GOLD was down 0.12% at $2524.60.
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DAY TRADERS: We are doing many profitable Day Trades on our Discord Trading Hub (free). Please join Discord or 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.
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SWING TRADE BUYS SOON:
We are now in 5 Three Star logged Swing Trading Positions for the Short & Medium Term. There are 7 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.
TRADES THIS WEEK:
AVGO BROADCOM INC. Stopped Out below the 50-day avg. with a 3.1 % Gain.
HOOD ROBINHOOD MARKETS Slipped below the Buy Price and was Stopped Out with a small Loss.
NTNX NUTANIX INC. Slipped down to the Buy Price and was Stopped Out even.
NVDA NVIDIA CORP. Slipped below the Red Line for a 12.3 % Gain.
QQQ NASDAQ 100 FUND Stopped Out below the Red Line for 2.8 % Loss.
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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 |
| Long Term Strategy | Stage Chart Investing | Articles |
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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What is Above the Green Line?