Markets “Gapped Up” again today as the Indices are back up to re-testing the January Highs. A few of the Strongest Leaders have made New Highs, but not many so far. The continued Low Volume indicates a lack of good Buyers at this level.
The S&P 500 Index is back up near to the January Highs of 3338. Now it needs to make higher Highs for this rally to continue. The NASDAQ 100 Fund made new Highs today, but Closed weaker. The Market should be returning back to a normal Green Zone – Red Zone trading zone.
Unfortunately the Low Volume of Buying says to be nimble & cautious for Short Term Traders. The best trades are when the S&P 500 Index is ALSO on the Green Zone, but that still has not happened since October..
Bonds were down again today, as Stocks rallied.
Crude Oil was up $1.21 today at $50.82 and is very over-sold.
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The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 2/5/2020
HZNP HORIZON THERA Money Wave Buy today. HZNP will not be logged as the Volume is below average of 1.6 MIL.
ITB HOME BUILDERS FUND Money Wave Buy today. ITB will not be logged as it is only 2 % off the Highs.
PHM PULTE GROUP INC. Money Wave Buy today. PHM will not be logged as the Volume is below average of 2.3 MIL.
VIPS VIPSHOP HOLDINGS LTD. VIPS might Close Above the RED Line of $13.43, but will not be logged with Low Volume.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
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.)
ITCI INTER-CELLULAR THERA. Buy if it Closes Above the Pink Line of $23.19 on High Volume.
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TSG THE STARS GROUP Buy if it Closes Above the Pink Line of $24.31 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).
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SELLS TODAY
BMY BRISTOL MEYERS Earnings come out tomorrow morning before the opening, so you might want to Sell today if you are nervous. We will hold on and bet on Great Earnings as BMY has a 94 Relative Strength.
Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS
NEW! TOP 100 LIST Updated Jan 28, 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.