Markets “Gapped Up today on Good News Buying. The S&P 500 Index was able to get above last week’s High of 2980, but low Volume is not Bullish. This could be Wave 5 up on the DOW (see Chart above). Techs were mixed today and BioTechs were down.
Some of the Leaders are having Money Wave Buy Signals today (see below). But the Volume is very poor so none of these Buys will be logged. We want High Volume on Buy Signals, which represents lots of Money coming in. This could be a sucker rally.
NEW SUBSCRIBERS: Most of the Leaders are over-bought again, so please WAIT for the Leaders to return to their Green Zones for Money Wave Buys. The better trades happen when the The S&P 500 is also back down to the Green Zone (now in the Red Zone).
Please remember that the Markets have bounced up about 35 % from the March Lows, and are over-bought. Do you have discipline?
Bonds were down today.
Crude Oil was up $0.96 today at $34.21.
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 5/26/2020
CTXS CITRIX SYSTEMS INC. Money Wave Buy today. CTXS will not be logged as the Volume is below average of 2.7 MIL.
GNMK GENMARK DIAGNOSTICS INC. Money Wave Buy today. GNMK will not be logged as the Volume is below average of 3.5 MIL.
UNFI UNITED NATURAL FOODS Money Wave Buy today. UNFI will not be logged as the Volume is below average of 2.7 MIL.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
“JUMP START” Candidates: (Buy Signal should be very soon… Click on the Jump Start link for more info.)
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Money Wave Buys Signals Soon (3 Days- 3 Weeks Short Term): (Best to Buy these when the S&P 500 is also in the Green Zone.)
VXX VOLATILITY INDEX Buy if it is going to Close above $35.43 on High Volume.
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Click 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).
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SELLS TODAY
ZM ZOOM VIDEO COMM. EXIT if it is going to Close below the Pink Line around $169.30.
W WAYFAIR INC. EXIT if it is going to Close below your Buy Price, or $161.39. This trade was not logged.
Click for PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS,
ARE YOUR iNVESTMENTS ABOVE THE GREEN LINE?
TOP 100 LIST Updated May 1, 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.
Are you introducing Elliott Wave Theory?
Ron
Hi Ron. Elliott Wave is a great tool for Technical Analysis: If you can get the Count correct.
There are so many ways to count Waves, but if helps you decide on a finite turning point (Or Get Out!)
Elliott Wave
Agreed, Just trying to figure it all out and get it right.
I have a friend who is very good at it, he is mentoring me.
Thank you for your work, you challenge my thinking.
I love it.
Peace,
Ron
Thank you Ron!
ICLN Chart