Markets were higher again today as the Indices need to get above last week’s Highs. The S&P 500 Index needs to Close above 2955 to make progress. The Volume has been low, but the Techs and some of the Leaders have continued higher. The Markets are currently ignoring the Economic weakness, as the FED is Printing Money at full speed. Please remember that the Markets have bounced up about 30 % from the March Lows, and are now RESTING.
So far the Leaders are not bouncing up much from the recent Money Wave Buys this time. The Leaders need to make Higher Highs than last week for progress to be made. If they struggle on this Low Volume, that could be Bearish. The Watch List is small again.
Looks like another attempt for the Market to go Above the Green Lines soon. 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 if FED Printing can save the day.
Bonds were down today as the Fear is slowly going away.
Crude Oil was up $0.91 today at $24.46.
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 5/08/2020 NONE
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.)
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EQT EQT CORP. (2nd Buy Entry soon)
INO INOVIO PHARM. Buy if it is going to Close above $11.59.
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 NONE TODAY
Click for PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS,
NEW ETF SECTOR ROTATION SYSTEM
NEW! 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.
HAVE A SAFE WEEKEND!