Markets were slightly higher again today as the S&P 500 and NASDAQ 100 Indices were able to make New Highs. There are few Sellers, and the Short Sellers on GameStop (GME) and AMC Entertainment (AMC) were squeezed out with 25% pops. Both Stocks were on the Long Term List to Buy Above the 50-day averages, but the Volume came in so fast, we missed them.
The DOW 30 Index and the Small Caps are lagging. Volume is low on most, so we are not wanting to Buy much at the Highs. Low Volume normally means that Smart Money is not Buying. The Tech Stocks and Crude Oil were higher.
New Investors: Several Leading Investments returned down to the Green Zones and had Buy Signals yesterday. Because the Markets are near Highs, and the Volume is Low, we are not Buying. Recently the Markets have been so extended that the Money Wave Buy Signals were not popping up much. The better trades happen when the S&P 500 Index is also in the Green Zone (now in the Red Zone).
A few Triple Buy Signals created pop ups this morning NAOV (+4%), and XELA (+4%) on DAY TRADING SETUPS.
Bonds were down today, and are Above the Green Line.
Crude Oil was up $2.05 today at $67.69.
BUYS TODAY 8/24/2021 NONE TODAY
WATCH LIST (Click here) NONE TODAY
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the 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).
CHS CHICO FAS INC. Target Hit at $6.75 for a 9.2 % Gain. This trade was not logged.
MRNA MODERNA INC Slipped below the Buy Price of $401.86 today and was Stopped Out. This trade was not logged.
Click for CURRENT POSITION SCROLLING CHARTS – Real Time (Please check and adjust your Sell Stops).
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, or Low Volume. These have more risk.