07/29/2018: Markets were higher for the week, as the Indices are going back up to re-test the January Highs. Failure to make New Highs could cause Selling. The broader New York Stock Exchange with 2800 Stocks is weaker.
The NASDAQ 100 Index was able to make New Highs this week, but sold off on FB and AMZN Earnings. For the week, the Dow was up 1.57%, the S&P 500 was up 0.61%, and the Nasdaq was down 0.77%. The Long Term Trend on the Stock Markets is UP.
The Inflation Index (CRB) was up 0.80% and is trying to hold Above the Green Line.
Bonds were down 1.08% for the week and Closed Above the Green Line, indicating Economic strength.
The US DOLLAR was mixed for the week, and is Above the Green Line.
MONEY WAVE BUYS SOON:
Be patient and WAIT for Green Zone Buys!
LONG TERM TRADES
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.
CGC CANOPY GROWTH Wait for Weekly Money Wave Close > 20.
IBKR INTERACTIVE BROKERS Wait for Weekly Money Wave Close > 20.
INTC INTEL CORP. Wait for weekly Close Above the Red Line of $51.57 (50-day avg.)
MTCH MATCH Wait for Weekly Money Wave Close > 20.
SPLK SPLUNK INC. Wait for weekly Close Above the Red Line of $105.44 (50-day avg.)
TWTR TWITTER, INC. Weekly Money Wave must Close in the Green Zone.
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.
QUESTION: Dewey writes “Stock charts showed BA hitting $344.35 today, which is below the stop loss limit you have. But it still remains in the open listing after the close of the market today. Am I missing something?”
ANSWER: The Rules require that the Investment Close below the Stop Price. Also, we will warn you in the Daily email if an Investment if probably going to Close Below the Sell Stop Loss point.
Good trading, and tell your friends!