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.
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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 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
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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).
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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
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!
What do you think about gold?
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.