Markets were higher again today but the S&P 500 Index now must make new Highs for this rally to continue. The NASDAQ 100 Index was able to make New Highs today, but the DOW 30 Index has become weaker and is struggling to get back above the Red Line.
The Low Market Volume is not Bullish, and most of the Money Wave Buy Signals have not been strong for over a month. Also the very Largest Stocks are going up more, which have a big weighting in the S&P 500 and NAS 100 Indices. This tends to mask the weakness in the breadth of the Market.
NEW SUBSCRIBERS: Please WAIT for the Volume to improve. The low Volume recently has WARNED us against Buying much at this time. The better trades happen when the S&P 500 Index is also in the Green Zone.
Several good pops today on DAY TRADING SETUPS
Bonds were mixed today, and are below the Green Line.
Crude Oil was down $0.17 today at $72.95.
BUYS TODAY 6/22/2021 NONE TODAY
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the 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 NONE TODAY
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, or Low Volume. These have more risk.