The Markets are mixed today, after filling more of the “GAP UP” from Wednesday’s panic buying. The Indices are still Above the Pink Lines (10-day avgs.) which avoids Short Term Sell Signals.
The NASDAQ 100 is currently the Strongest major Index. When the NASDAQ 100 returns down near it’s Red Line, there should be a decent trade back up to the Highs.
The Reward / Risk ratio of investing now is poor, so please do not Buy unless you are VERY NIMBLE, as the Leaders are still Way Above the Green Lines.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
EWZ BRAZIL FUND Money Wave Buy today.
We are LOWERING the Sell Stop on URA to $15.90, as it is sitting right on Top of the Red Line with 94 Relative Strength (for Short Term Portfolio only).
We will have a CHAT ROOM session on Saturday at 11:00 am EDT for those with questions about the Markets.
Click for WATCH LIST
Click for OPEN POSITIONS
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.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buy orders.