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September 29, 2019

Green Line Weekly Sept 29, 2019

SPX Chart
S&P 500 Index should do a Double Top (Bearish) or Cup & Handle (Bullish) pattern soon.

 

09/29/2019:  Markets were down again for the week, as the Bears are betting on a Double Top on the S&P 500 Index. The Bulls are betting on a “Cup & Handle” pattern. A Cup & Handle pattern would normally stall at Resistance, fade back down towards the Red Line (50-day avg.) and then surge back up to New Highs. We will find out soon. 

The Gold and Gold Miners are back down in the Green Zones for another bounce attempt soon. We did not capture the small Gains on the Precious Metals last week, and most got Stopped Out.

For the week the Dow was down 0.47%, the S&P 500 was down 0.97%, and the Nasdaq 100 was down 1.78%.  The Long Term Trend on the Stock Markets is UP. 

The Inflation Index (CRB) was down 0.91% and is Below the Green Line, indicating Economic Weakness.

Bonds  were up 0.59% for the week and are Above the Green Line, indicating Economic Weakness.

The US DOLLAR was up 0.67%, a 3 year High. 

Crude Oil was down 3.75% for the week at $55.91, and GOLD was down 0.57%  at $1506.40.

___________________________________________________________________________________________

MONEY WAVE BUYS SOON:   

We are currently in 5 logged Open Positions, for the Short & Medium Term.  There are 6 Investments on the Short Term Watch List. 

Be patient and WAIT for Green Zone Buy Signals!

______________________________________________________________________________________________

LONG TERM INVESTMENTS 

Buy the Leading Investments that are down near the weekly Green Zones.     

ARWR     ARROWHEAD PHARMA.      Wait for Weekly Money Wave Close > 20.

CDNS     CADENCE DESIGN    Wait for Weekly Money Wave Close > 20.

OKTA     OKTA INC.      Wait for next Daily Green Zone Buy.

SBGI     SINCLAIR BROADCAST GROUP    Buy if it is going to Close above $45.73.   

SBUX     STARBUCKS    Buy if it is going to Close above $92.10.   

TTD     TRADE DESK INC.      Wait for Weekly Money Wave Close > 20.

 

___________________________________________________________________________________________

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

 

Alert! Market Risk is MEDIUM (Yell0w Zone). 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:  Janet writes: “I just signed up to your system.  I trade intraday so I need to know the following: 1) Indicators and their individual settings (Money Wave/Slow Stochastic), What time frame will I use on my charts for using this system intraday i.e., 5 minutes, 30 minutes?, 3) Do I still use the 250 EMA for trading intraday?”

ANSWER:  Hi Janet, and thank you for subscribing. We suggest you review the FAQ Page and the Rules.

We use 60-min and Daily Charts for most trades, and Weekly Charts for Longer Term trades.

Please read about JUMP START to get into the Daily Buy Signal trades before the end of the day.

The Money Wave Indicator is a simple term for Slow Stochastic 5,1… All indicator values are labeled on each Chart.

Good trading, and tell your friends!

Related Post

– Green Line Weekly Sep 29, 2019

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