Markets were down today after yesterday’s big pop. The S&P 500 Chart Above needs to hold Above Friday’s Low of 2585 before a good Rally can begin. The Indices had steep declines from last week (heavy selling), and those take a while to heal.
This could be an A-B-C down move towards the Green Line, where the entire move is a Wave 4 down correction… The lower Volume would indicate that. Then a Wave 5 Up could begin.
Crude Oil down today at $65.25.
The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.
M MACY”S INC. Money Wave Buy today. Place Sell Stop Loss below support of $27.18 on the Close.
SMH SEMICONDUCTOR FUND MAYBE Money Wave Buy today. Place Sell Stop Loss below support of $104.09 on the Close.
BOTZ ROBOTICS FUND Medium Term Wave Buy today. Place Sell Stop Loss below support of $23.35 on the Close.
Money Wave Buys soon for:
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 still Way Above the Green Lines (all Investments eventually return to their Green Lines).
LOWER SELL STOP LOSS on ARRY ARRAY BIOPHARMA to $16.08 on the Close.
EXIT EW EDWARDS LIFESCIENCES if it is going to Close your Buy Price, or $140.28 (trade was not logged)
Please 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).
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.