Markets were up again today as some of the Indices are back up higher than the January Highs. The NASDAQ 100, S&P 500 and DOW 30 made New Highs. The Transports, NYSE, and Small Caps have not. The continued Low Volume indicates a lack of good Buyers up at the Highs.
The S&P 500 Index went up to 3348, slightly higher than the January Highs of 3338. Now it needs to hold above 3338 and push higher for this rally to continue. Most Indices are back up in the Red Zones (probably too late to Buy for the Short Term). The Market should be returning back to normal Green Zone – Red Zone trading.
Short Term Traders might want to start fishing for some profits in the Red Zones. 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 up slightly today.
Crude Oil was up $0.25 today at $51.00 and is very over-sold.
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 2/6/2020 NONE TODAY
Money Wave Buys Signals Soon (Short Term): (Best to Buy these when the S&P 500 is also in the Green Zone.)
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).
SMH SEMICONDUCTOR FUND EXIT on the Close today or have a tight Sell Stop below it to capture a quick 5 % Gain. SMH has not made new Highs, is in the Red Zone and is down today.
INSG INSEEGO CORP. EXIT if it is going to Close below your Buy Price, or $7.58. This trade was not logged.
Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
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 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.