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January 24, 2020

Money Wave Alert! Jan 24, 2020

DIA Chart
A Short Term Sell Signal on the DOW 30 Index.

 

Markets are finally pulling back after being very over-bought. The S&P 500 could not exceed Wednesday’s High today, so traders bailed after the S&P 500 dropped below the Pink Line (10-day avg.)  Closing below the Pink Line normally creates a Short Term Sell Signal. We should see some better Money Wave Buy Signals next week.

Short Term Traders should WAIT for the Leaders to return to their Daily Green Zones. The best trades are when the S&P 500 Index is ALSO on the Green Zone.

Bonds  were up again today, as Equities were lower.

Crude Oil was down $1.63 today at $54.06.

______________________________________________________________________________________________________

The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.

BUYS TODAY    1/24/2020   NONE TODAY

THERE WILL BE NO LONG TERM BUYS THIS WEEK.

 

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.)   

TAL     TAL EDUCATION GROUP 

TSG     THE STARS GROUP   

____________________________________________________________________________________________________________________   

APA     APACHE CORP.       

BABA     ALIBABA GROUP          

BMY     BRISTOL MEYERS       Money Wave must Close in the Green Zone. 

ITCI     INTER-CELLULAR THERA.     Buy if it Closes Above the Pink Line of $25.80 on High Volume.      

LK     LUCKIN COFFEE     

VIPS     VIPSHOP HOLDINGS LTD.     (2nd Money Wave Buy soon).

 

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).

______________________________________________________________________________________

SELLS TODAY     

 

EURN      EURONAV NV     LOWER the Sell Stop Loss once more below $10.28. Relative Strength is still 90, and it is back down in the Green Zone again.  Will hope to EXIT soon around the Red Line of $11.50. 

RH     RESTORATION HARDWARE      EXIT if it is going to Close below the Pink Line around $220.45 for a 3.5 % Gain. 

 

NAT     NORDIC AMER. TANKER     EXIT if it is going to Close below Support of $4.11. This trade was not logged.     

VIPS          TAIWAN SEMICONDUCTOR    EXIT if it is going to Close below Support of $13.80. This trade was not logged.

 

Check   PORTFOLIO  (Open Positions) and adjust your Sell Stops.

Click for  CLOSED POSITIONS

NEW! TOP 100 LIST.

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.

 

HAVE A NICE WEEKEND!

Posted By AbovetheGreenLine at 2:40 pm 2 Comments Tagged With: premium

Comments

  1. monz34 says

    January 24, 2020 at 3:41 pm

    What do you think about gold?

    Log in to Reply
    • AbovetheGreenLine says

      January 24, 2020 at 4:06 pm

      Thank you for writing. Using Technical Analysis, we are not allowed to “think or predict”… Just Follow the Money.

      We Buy High Volume Investments with Above 90 Relative Strength when they correct back down into their Green Zones. We have owned IAU (Gold Fund) and GDX (Gold Miners Fund) several times in the last few years.

      Longer Term, Gold Miners are historical low, and could do very well if the Markets drop, or if GDX Chart Closes above $31.06 on High Volume.

      Good trading and tell your friends!

      GDX Chart.

      Log in to Reply

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