Markets bounced up today after yesterday’s drop. The Volume was low on the Buying today, but picked up on the selling yesterday (Bearish). The DOW 30 Index is back on the Highs, with the other Indices laggings. Oil Stocks were strong today and are back up near the Highs. Industrial Metals are Strong (XME).
Trading would be better if the Markets could pull back down to the Red Lines (50-day avgs.) like the NASDAQ 100 did yesterday. This would bring in more Buyers. The NASDAQ 100 does not have high enough Relative Strength to meet the Green Line Rules for purchase.
NEW SUBSCRIBERS: Please WAIT for Money Wave Buy Signals (below) with High Volume. The Markets are extended now from Human Emotion and Greed. The better trades happen when the S&P 500 Index is also in the Green Zone. Don’t Buy Investments when they are in the Red Zones (probably too late to Buy for the Short Term).
Several new adds today to DAY TRADING SETUPS
Bonds were mixed today, and are below the Green Line.
Crude Oil was down $0.49 today at $65.20.
BUYS TODAY 5/5/2021 NONE TODAY
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).
AMRS AMYRIS INC. EXIT if it is going to Close below Support of $13.88. This trade was not logged.
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, or Low Volume. These have more risk.