The Markets are bouncing again today, as the Strongest Indices (Naz 100, Semis & Techs), are going back up again to re-test the recent Highs. We should find out soon how much money is left to Buy into the Markets at these levels. Failing to make New Highs should cause selling.
The S&P 500 is going to Close back Above the Red Line (50-day avg.) to avoid a Medium Term Sell Signal. Resistance on the S&P 500 is at 2405. The Financials have become much weaker, so be careful (Tammy is all in, betting that all is well).
Wait for the Leaders come back down in their Green Zones for Money Wave Buys. The Strongest Investments just made fresh new Highs recently(AAPL DDD EA JD MAR SINA, etc.)
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.
BUYS TODAY: NONE TODAY Several now have Relative Strength < 90.
Money Wave Buy Signals soon: DV DEVRY INC, EXAS EXACT SCIENCES, SCSS SELECT COMFORT, VIAV VIAVI SOLUTIONS & WDC WESTERN DIGITAL & WYNN WYNN RESORTS. We will email you when they are ready. Click on WatchList
SELLS TODAY: NONE TODAY
Click for PORTFOLIO (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 Buys.
HAVE A NICE WEEKEND!