Markets were down slightly today on profit taking as the DOW INDEX has rallied 4400 points off the March Lows. Congress passed a Bail Out Bill today (Good News), but most Investments have already discounted that, and are back up in their Red Zones (probably too late to Buy for the Short Term). Short Term Investors might want to raise some CASH.
It would be very normal for the weaker Markets like the DOW, Small Caps, NYSE, & Transports to go back down and re-test the recent Lows. The steep decline in March would normally need more of a “W” pattern, with this week’s rally being the middle of the W (see chart above).
The strongest LEADERS that are now Above the Green Line should go higher, but many are now back up in their Red Zones (probably too late to Buy for the short term). They should hold up the best, but could pull back some next week.
The CNN Fear & Green Index is slowly climbing up from 2 last week, to 23 today. It was 95 (SELL) at the Market Top in January.
There are 3 INVERSE FUNDS on the Watch List (RWM SH & VXX) that are down in the Green Zones for Money Wave Buys soon. These Inverse Funds could re-test their Highs, and are Above the Green Line + Above 90 Relative Strength. All of the major US Indices are Below the Green Lines.
Bonds were up again today.
Crude Oil was down $1.28 today at $21.32.
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 3/27/2020
CLX CLOROX CO. Money Wave Buy today. Target is $192.00. EXIT if it Closes below $161.11.
KR KROGER CO. Money Wave Buy today. Target is $34.50. EXIT if it Closes below $27.33.
GILD GILEAD SCIENCES INC. Money Wave Buy today. GILD will not be logged as the Volume is below average of 22.5 MIL.
INO INOVIO PHARMA. Money Wave Buy today if it Closes above $7.85. INO will not be logged as it is already up 14 % today.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
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.)
NONE TODAY
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VXX VOLATILITY FUND Buy if it Closes above $52.67 on High Volume.
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
AMD ADVANCED MICRO EXIT on the Close today or have a tight Sell Stop below (both positions) it to capture a 14 % Gain. AMD is in the Red Zone, and we will try to Buy it again lower.
RNG RING CENTRAL INC. EXIT on the Close today or have a tight Sell Stop below it to capture a 12 % Gain. RNG is up 70 % from the recent low and we will try to Buy it again lower.
ENPH ENPHASE ENERGY EXIT if it is going to Close below your Buy Price, or $34.42. This trade was not logged.
Click for PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS,
NEW! TOP 100 LIST Updated Mar 9, 2020
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 SAFE WEEKEND!
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– Bonds