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May 6, 2020

Money Wave Alert! May 6, 2020

XLK Chart
The Tech Fund (XLK) is still creeping higher.

Markets were mixed today on very low Volume. The Big Techs were up and many Leaders had Money Wave Buy Signals yesterday. The Economic numbers are currently very weak, but many investors are afraid to Sell with the FED Printing Money at full speed. 

So far the Leaders are not bouncing up much from the Money Wave Buys yesterday. This shows a lack of conviction (or money) at this time. The Leaders should make Higher Highs than last week for progress to be made. If they struggle on this Low Volume, that could be Bearish.

Looks like maybe another attempt for the Market to go back up to the Green Line this week. The S&P 500 is at the 62% Retracement Level of the decline since the January Highs. Historically that Level could be the Top of a weak Market. We will see if the Markets roll over soon, or not. 

 

Bonds  were down big today, but are back in the Green Zone for a Money Wave Buy soon.

Crude Oil was down $0.63 today at $23.90.

 

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

BUYS TODAY    5/06/2020    NONE TODAY

 

Money Wave Buys Signals Soon (Short Term):   (Best to Buy these when the S&P 500 is also in the Green Zone.)    

 

“JUMP START” Candidates:  (Buy Signal should be very soon… Click on the Jump Start link for more info.)   

NONE TODAY

_______________________________________________________________________________________________________________________________________________         

INO     INOVIO PHARM.     Buy if it is going to Close above $11.59.   

TLT     US GOV’T BOND FUND

 

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 Way Above the Green Lines (all Investments eventually return to their Green Lines).

___________________________________________________________________________________________________

SELLS TODAY   

 

CNX     CNX RESOURCES    EXIT if it is going to Close Below Support of $9.96.  This trade was not logged.

EQT     EQT CORP.     EXIT if it is going to Close Below your Buy Price, or $13.39.  EARNINGS are tomorrow morning before the opening, if you don’t want to be in on News.  This trade was not logged.

 

Click for   PORTFOLIO  (Open Positions) and adjust your Sell Stops. 

Click for  CLOSED POSITIONS, 

NEW ETF SECTOR ROTATION SYSTEM   (LINK)

NEW! TOP 100 LIST Updated Mar 31, 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.

Posted By AbovetheGreenLine at 2:43 pm Leave a Comment Tagged With: premium

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

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