The S&P 500 was able to push thru the 2405 Resistance of Mid May, on below average Volume. The Strongest Indices (Naz 100, Semis & Techs), have also made New Highs today. The NYSE, DOW 30, Small Caps, Transports, Financials & BioTechs are not keeping up.
Investors have no Fear, and are now Complacent and have stopped worrying about Selling. Each time the Markets make New Highs lately, fewer and fewer Investments are participating in the rallies. Most Funds are back up in the Red Zones (probably too late to Buy for the Short Term).
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: EPI INDIA FUND Money Wave Buy today. Sell Stop at $24.23 on the Close.
We will still Buy MDXG MIMEDX GROUP if it goes back down again under $13, with a Sell Stop at $12.60 on the Close.
SELLS TODAY: EXIT WYNN WYNN RESORTS if it is going to Close below your Buy Price, or $125.16.
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.