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May 31, 2018

Money Wave Alert! May 31, 2018

SPX Chart
S&P 500 is Holding Above the Red Line.

 

Markets were lower today on very sluggish trading. Most will not worry as long as the S&P 500 is Above the Red Line (50-day avg.)  However, many of the Leaders are back up in the Red Zones (probably too late to Buy for the Short Term).

Crude Oil  was down today at $67.10.

 

Please be patient, and WAIT for the Leading Investments to return to the Green Zones for more Money Wave Buy Signals.

_____________________________________________________________________________________

The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.

 

BUYS TODAY    

SPLK    SPLUNK INC.    Money Wave Buy today. Place Sell Stop Loss below Support of $107.08 on the Close.

USO    US OIL FUND      Money Wave Buy today. Place Sell Stop Loss below Support of $13.33 on the Close.

WTI    W&T  OFFSHORE     Money Wave Buy today. Place Sell Stop Loss below Support of $6.31 on the Close.

 

Money Wave Buys soon for:

WTW    WEIGHT WATCHERS INT’L.

 

Please be patient and wait for Money Wave Buy Signals.  We will email you when they are ready. Click on Watch List.

Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).

______________________________________________________________________________________

SELLS TODAY   

 

EXIT    ANF    ABERCROMBIE & FITCH    if it is going to Close Below the Red Line around $28.28. This trade was not logged.

 

Please Check   PORTFOLIO  (Open Positions) and adjust your Sell Stops.

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. We will “Not Log” trades if the Reward/Risk is not at least 2:1.

Posted By AbovetheGreenLine at 2:36 pm 2 Comments

Comments

  1. d.weekley says

    June 1, 2018 at 8:23 pm

    I am puzzled by the SGMO SANGAMO THERA buy recommendation as the SCTR score is only 37.5

    Log in to Reply
    • AbovetheGreenLine says

      June 3, 2018 at 11:05 am

      Thank you for writing. The SCTR rank from Stock Charts is weighted too much to the last 90 days of trading. We prefer the longer term Relative Strength from
      Investor’s Business Daily or http://www.etfscreen.com.

      But the Relative Strength of SGMO at IBD is still only 80. (Also there are 2 values of SCTR on StockCharts Chart.. The lower one is a 155 day moving average which is 84. Please use that one).

      We will probably amend the Rules on Long Term Trading to only 80 R S, as very few Investments stay up at 90 R S after correcting down to the Green Line.

      SGMO Chart

      Log in to Reply

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SH Chart
Inverse S&P 500 Fund (SH) will have a Money Wave Buy today.

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