The Markets are down slightly today, as Buyers are cautious. The S&P 500 keeps breaking the Pink Line (10-day avg.), but Selling does not come in… This indicates more Buyers want in, as many Investments have corrected some.
The Reward / Risk ratio of investing now is poor, so please do not Buy then 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.
We are LOWERING the Sell Stop on OAS again by 15 cents to a Close Below $14.15, since OAS is back in the Green Zone, and the Relative Strength is still 96.
EXIT WNR if it is going to Close Below your Buy Price, or $35.24.
We are Keeping the Sell Stop on X at $31.80, and betting on another Steel bounce.
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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.