Markets were mostly lower today as Indices were down in the morning but were able to bounce up near the Pink Lines (10-day avgs.) to avoid Short Term Sell Signals. The sideways battle continued as to whether the Indices make New Highs, or “Double Top”. Oil Service Stocks were strong again as Crude Oil made a New High for the year above $68.75.
Many Indices and Big Caps are back up in the Red Zones (probably too late to Buy for the Short Term). The DOW 30 Index and the S&P 500 now need to make Higher Highs to avoid a “Double Top”. Please be Patient and WAIT for more Money Wave Buy Signals soon. There is only 1 name on the Watch List.
NEW SUBSCRIBERS: The Watch List below is down to only 1 Position (WAIT). Please WAIT for the Volume to improve (not many Buyers left). 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.
Two nice 10% + pops today on DAY TRADING SETUPS
Bonds were up slightly today, but are below the Green Line.
Crude Oil was up up $0.03 today at $68.86. (New High).
BUYS TODAY 6/3/2021
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). BTU PEABODY ENERGY CORP.
BTU PEABODY ENERGY CORP. Target was Hit at $8 for a 23.4 % Gain. This trade was not logged.
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.