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April 7, 2020

Money Wave Alert! Apr 7, 2020

SPX Chart
The S&P 500 Index could be doing A-B-C Wave up to the Red Line.

 

Markets were higher today as the S&P 500 Index was able to Close above 2641.39 to bring in more Buyers.  Next resistance is the Red Line (50-day avg.) around 2815. This rally from the Lows could be an A-B-C up on Elliott Wave count.

The 50-day average could become a short term profit taking area for nimble Investors, so we are raising some Cash below. Some of the Leaders are getting extended after the last 2 day rally, and the Watch List has become smaller. 

Try to stay in the strongest LEADERS that are Above their Green Lines. All of the major Indices except the NASDAQ 100 (QQQ) are Below the Green Lines and could go down again. NEW SUBSCRIBERS:  Please be patient and WAIT for Money Wave Buy Signals soon (see Watch List below). 

 

Bonds  were down again today. 

Crude Oil was down $1.97 today at $24.11.

 

The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.

BUYS TODAY    4/07/2020    NONE TODAY

 

Please see Buys below for Buys in the ETF Sector Rotation System.

 

ETF SECTOR ROTATION SYSTEM   (LINK)   Three new Funds will be added today that Closed back above their Green Lines (now total of 5).

NASDAQ 100 Fund (QQQ), TECH FUND (XLK), and GOLD MINING FUND (GDX).

 

Money Wave Buys Signals Soon (Short Term):   (Best to Buy these when the S&P 500 is also in the Green Zone.)    

 

“JUMP START” Candidates:  (Buy Signal should be very soon… Click on the Jump Start link for more info.)   

AXSM     AXSOME THERA.

_______________________________________________________________________________________________________________________________________________    

VXX     VOLATILITY FUND     

ZM     ZOOM VIDEO COMM.     Buy if it Closes above $125.17 on High Volume.

 

Please be patient and wait for Money Wave Buy Signals.  We will email you when they are ready. Click on Watch List.

Emotions are very high now, so please do not Buy unless you are VERY NIMBLE.

The Leaders are Way Above the Green Lines (all Investments eventually return to their Green Lines).

___________________________________________________________________________________________________

SELLS TODAY    

 

BLDP     BALLARD POWER    EXIT on the Close today (both positions), or have a tight Sell Stop below it to capture an 15 % Gain. We will try to Buy again lower. 

IAU     GOLD FUND     EXIT on the Close today, or have a tight Sell Stop below it to capture an 8 % Gain. We will try to Buy again lower.    

UUP     US DOLLAR FUND    EXIT if it is going to Close below the Pink Line around $27.05.

 

Click for   PORTFOLIO  (Open Positions) and adjust your Sell Stops. 

Click for  CLOSED POSITIONS, 

NEW ETF SECTOR ROTATION SYSTEM   (LINK)

NEW! TOP 100 LIST Updated Mar 31, 2020

 

Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and out of the Green Zone).

Don’t Buy if the Investment has already popped up too much. Money Wave Buys are usually good for a 3-6 %  move in a few days.

We will “Not Log” trades if the Reward/Risk is not at least 2:1.

Posted By AbovetheGreenLine at 2:40 pm Leave a Comment Tagged With: premium

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

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