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August 26, 2018

Weekly Green Line August 26, 2018

SPX Chart
S&P 500 is back up to the Highs.

 

08/26/2018:  Markets were  up for the week, as several major Indices made New Highs. Now the Indices should hold above the January Highs for the rally to remain healthy, as old Resistance should become Support.

A more “Bullish” scenario would have been for the Markets to shoot up thru the Highs with Huge Volume. That did not happen.

The “Bearish” scenario would be for the Markets to “Double Top”  or form a “M” pattern, which would indicate a lack of new money and could cause Selling. 

For the week the Dow was up 0.47%, the S&P 500 was up 0.86%, and the Nasdaq 100 was up 1.46%.   The Long Term Trend on the Stock Markets is UP.

 

The Inflation Index (CRB) was up 1.77% and is Below the Green Line, indicating Economic weakness.

Bonds  were up 1.08% for the week and Closed Above the Green Line, indicating Economic weakness.

The US DOLLAR  was down 0.94% for the week, and should bounce near the Red Line soon.

Crude Oil was up 5.38% for the week at $68.72, and GOLD was up  2.46% at $1213.

___________________________________________________________________________________________

MONEY WAVE BUYS SOON:   

We are currently in 3 logged Open Positions, for the Short & Medium Term.  There is 1 Investment on the Short Term Watch List. 

Be patient and WAIT for Green Zone Buys!

______________________________________________________________________________________________

LONG TERM TRADES 

 

NFLX    NETFLIX, INC.    was up 13% for the week, so we missed it…

SPLK    SPLUNK, INC.    was up 19% for the week, so we missed it…

 

MU    MICRON TECH     CHANGE Buy Signal to: Wait for Weekly Close above the Red Line, since the Semi group has weakened.

 

The Funds below are correcting down to their Green Lines, but the Relative Strength is remaining high. These tend to Bounce nicely when the weekly Money Wave crosses up > 20.

ARRY    ARRAY BIOPHARMA    Wait for Weekly Money Wave Close > 20.
IBKR    INTERACTIVE BROKERS     Wait for weekly Close Above the Red Line of $63.08 (50-day avg.)
INTC    INTEL CORP.    Wait for weekly Close Above the Red Line of $49.50 (50-day avg.)
MU    MICRON TECH    Wait for weekly Close Above the Red Line of $52.35 (50-day avg.)
TWTR    TWITTER, INC.    Wait for weekly Close Above the Red Line of $36.19 (50-day avg.)
WTW    WEIGHT WATCHERS    Wait for Weekly Money Wave Close > 20.

___________________________________________________________________________________________

Click for  Portfolio (Open Positions)  
Click for  Watch List
Click for  Closed Positions

 

Alert! Market Risk is High (RedZone). The probability of successful Short Term Trades is better, when the S&P 500 is down near the Green Line. 

Tell your Friends about the Green Line, and Help Animals.

 

A Letter to Sarah:

Hi Sarah. Above the Green Line is a System of rotating into Investments that generally have more Buyers than Sellers (Above the Green Line > 250 day average), and the highest Relative Strength (> 90 RS).

This System is designed to Buy High, and Sell Higher, Momentum Investing that requires the discipline to EXIT Investment position that are no longer the LEADERS, or follow the RULES.

Many are taught to Buy Low and Sell High, which can work well, but sometimes you must wait years for results.

We are basically using computers to identify the top 10% of Investments that have the highest flow of money into them. Then we Buy these on pull-backs to their Green Zones, based on the Money Wave.

Good trading, and tell your friends!

Posted By AbovetheGreenLine at 12:54 pm Leave a Comment

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