Markets were mixed to lower today as some Big Tech and Momentum Stocks got hit hard. The DOW 30 and Small Cap Indices are holding up fine, but lots of profit taking on the Leaders. Money Wave Pops have been weak, and the Markets need more Stimulus to boost confidence. The Senate should vote soon on the Plan.
Soon the Indices need to make new Highs for the rally to continue. Bonds are very over-sold now and might be having a “W” pattern for a bounce back up soon (but Bonds break the Rules, so don’t Buy). Longer tern Interest Rates could drop for a while and help the Stock Market rally.
We are being conservative and only Buying Signals now if the Volume is High (at least 1.25 X the 50-day avg. Volume). The better trades happen when the S&P 500 Index is also in the Green Zone (now coming down from the Red Zone).
More Money Wave Buys soon in DAY TRADING SETUPS
Bonds were down, and are below the Green Line.
Crude Oil was up $1.52 today at $61.27.
BUYS TODAY 3/3/2021
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).
BIDU BAIDU INC. LOWER the Sell Stop Loss below the Red Line of $257.60 until it bottoms.
EXPR EXPRESS INC. Was Stopped Out last night when it Closed below $2.65. This trade was not logged.
DDD 3D SYSTEMS CORP. LOWER the Sell Stop Loss below $26.50 until it bottoms.
NIO NIO INC. LOWER the Sell Stop Loss below $40.00 until it bottoms.
PLUG PLUG POWER INC. LOWER the Sell Stop Loss back down below $37.22.
Z ZILLOW GROUP LOWER the Sell Stop Loss below $149.00.
Please updates your Sell Stops.
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. These have more risk.