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Markets Gapped Down today on profit taking from the Big 7 Stocks and Semiconductors. The S&P 500 and NASDAQ 100 slipped below the Pink Lines to create short term Sell Signals. Smart Money returned to capture some gains from the 8 week steep rally. Several Sells today (see below).
Markets are now Way Above the Green Line which tells us that Markets no longer offer a good Reward / Risk ratio. Remember, we like to Buy on Bad News (October) and take profits on Good News (soon). The Leaders and Indices are very extended for the short term, on FOMO Buying (Fear of Missing Out). Most of the Indices were back up in the Red Zones (probably too late to Buy for the short term).
Wait for more Buy Signals soon, coming up out of the Green Zones. CHARTS The best moves happen when the S&P 500 Index is also coming up out of the Green Zone.
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End of Year Tax Selling BOTTOM FISHERS for the Close today (Jan 2, 2024). Up or Out, if they don’t bounce up on Wednesday or Thursday, Dump them): BLNK CAN CHPT DISH FCEL FSR LUMN PLUG TUP UNG.
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ETF SECTOR ROTATION SYSTEM The 4th Quarter ended Friday and we Sold all 5 ETF Positions on the Close. The 5 new ETFs to Buy on Tuesday Jan. 2nd will be SPY – S&P 500 Fund, QQQ – NASDAQ 100 Fund, IWM – Small Cap Fund, EFA – MSCI Foreign Fund, and XRT – Retail Fund and should be bought today on the Close. Or you can replace GDX, SLV, & XLE with IWM, EFA, & XRT on today’s Close and have 20% in each Fund for the monthly rotation.
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BUYS TODAY 12/2/2024 NONE TODAY
BUYS TOMORROW
ACHR ARCHER AVIATION Relative Strength has dropped below 90. AVOID.
APP APPLOVIN CORP. Wait for Daily Money Wave Close > 20 with High Volume.
CVNA CARVANA CO. Wait for Daily Money Wave Close > 20 with High Volume.
UEC URANIUM ENERGY CORP. Wait for Daily Money Wave Close > 20 with High Volume.
Shop for a better price earlier in the day with Triple Buy Signal, on the same day that a Daily Money Wave Buy Signal will occur.
BUYS SOON
TBT INVERSE T-BOND FUND (2X) Below the Green Line. AVOID for now. Buy above $34.56.
Please be patient and Wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the WATCH LIST.
Many like to Buy the Swing Trades just before the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and up out of the Green Zone). Don’t Buy if the Security has already popped up too much. Money Wave Buy Signals are usually good for a 3-6 % move in a few days.
SELLS TODAY
CCJ CAMECO CORP. EXIT if it is going to Close below Support of $42.64. This trade was not logged.
DELL DELL TECH. EXIT if it is going to Close below the Pink Line around $75.30. The Target was already Hit for an 8.3 % Gain.
DKNG DRAFT KINGS INC. EXIT if it is going to Close below Support of $34.15. This trade was not logged.
INTC INTEL CORP. EXIT if it is going to Close below the Pink Line around $48.31. The Target was already Hit for a 5.4 % Gain.
QQQ NASDAQ 100 Fund EXIT if it is going to Close below the Pink Line around $407.95. The Target was already Hit for a 6.8 % Gain.
SMH SEMICONDUCTOR FUND EXIT if it is going to Close below the Pink Line around $173.43. The Target was already Hit for a 1.1 % Gain.
TAL TAL EDUCATION Slipped below the Buy Price and was Stopped Out even. (Don’t Take a Loss!)
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DAY TRADING SETUPS. Today 3 trades for $760.00. Day Trading Alerts are now being sent out on our new Discord Site with Live Chatting. Please install Discord app on your pc or cell for mobile notifications. Also follow our Trading Room for quick trades. Or look for Triple Buy Pops (3 Green Circles). Big Movers today: GBTC (+7%) SQQQ (+6.5%) & SOXS (+13%). Try out the Side by Side layout.
DAY TRADING FOR INDICES & LARGE CAPS CHARTS.
Bonds were down today and are Above the Green Line.
Crude Oil was down $1.43 today at $70.42.
MY TRADING DASHBOARD
SWING TRADING CURRENT POSITIONS
DAY TRADING SETUPS
TRADE ALERTS
GREEN LINE CHARTS AT STOCKCHARTS
ARE YOUR INVESTMENTS ABOVE THE GREEN LINE?
GREEN LINE RULES
ETF SECTOR ROTATION SYSTEM
New TOP 100 LIST Updated Jan 2, 2024
We will “Not Log” trades if the Reward/Risk is not at least 2:1, or Low Volume. These have more risk.
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