The Markets are up again today, as nobody has a reason to Sell. The S&P 500 has rallied above the 2301 High of Jan. 26th to 2332. That makes 2301 Support for later this week… Watch out if the Support does not hold (not many good New Highs in stocks).
The Reward / Risk ratio of investing now is poor, so please do not Buy unless you are VERY NIMBLE, as the Leaders are still Way Above the Green Lines.
We are waiting for the S&P 500 to correct back down near the Red Line (50-day avg.) to set up for a good bounce.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
EXIT RIO today on the Close, or put in a tight Sell Stop Loss.
EXIT URA today on the Close, or put in a tight Sell Stop Loss.
We are Lowering Sell Stop Loss on SN to $12, as it is still Correcting down near the Red Line.
Please monitor the OPEN POSITIONS Page and update your Sell Stop Losses. Several are back up in the Red Zones.
Click for WATCH LIST
Click for OPEN POSITIONS
Click for CLOSED POSITIONS
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20).
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.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buy orders.