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8/4/2024 Markets were down sharply for the week, as the FEAR Flush by the Media has taken the Big 7 Stocks and Semiconductors /AI back down near the Green Lines. This should be a normal Wave IV downward correction, to Flush out the undisciplined investors that panic bought last month on GREED & FOMO.
Many have already forgotten that the FED has promised to lower short term Interest Rates in September. Lower Rates should cause the Markets to pop back up on Wave V, to retest the recent Highs. Try to Buy the Leaders that are still above the 50-day averages.
The FEAR Index ($VIX) surged up 80% this week, and that is when we like to BUY! Bonds surged up 6.04% for the week on Economic weakness.
If you continue to Follow the Green Line System, your Money should flow into the Strongest areas and your Account value should be able to grow in both Bull and Bear Markets. Follow the MONEY, not the MEDIA.
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For the week the Dow was down 2.19%, the S&P 500 was down 2.12% and the NASDAQ 100 was down 3.07%. Many of the major Indices still have a Relative Strength below 80, so you should currently own the stronger Funds here.
The Inflation Index (CRB) was down 2.62% for the week and is Below the Green Line, indicating Economic Contraction.
Bonds surged up 6.04% for the week, and are Above the Green Line, indicating Economic Contraction.
The US DOLLAR was down 1.03% for the week and is Below the Green Line.
Crude Oil was down 4.72% for the week at $73.52 and GOLD was up 3.73% at $24.26.80.
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DAY TRADERS: We are doing many profitable Day Trades on our Discord Trading Hub (free). Please join Discord or X (Twitter) with your cell phone app for the fastest Trade Alerts and Daily email notifications during the day. Other methods of notification have been too slow. Also, please check our our Live Trading Room on YouTube during Market hours.
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SWING TRADE BUYS SOON:
We are now in 5 Three Star logged Swing Trading Positions for the Short & Medium Term. There are 7 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
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LONG TERM WATCH LIST
ATGL Long Term Weekly Watchlist- Click here for scrolling charts.
TRADES THIS WEEK:
CATX Prospective Thera. Stopped Out on the Close with a 15.1% Gain.
GME GAMESTOP CORP. Stopped Out at $23.60 for a 5.5 % Loss.
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Important Links| Top 100 | Stage Chart Investing | CNN Fear & Greed Index |
| Dividend Growth Portfolio | ETF Sector Portfolio | Dogs of the Dow |
| Long Term Strategy | Stage Chart Investing | Articles |
Alert! Market Risk is Medium (YELLOW). The probability of successful Short Term Trades is better, when the % of stocks above the 50-day avg. is below 20.
Tell your Friends about the Green Line, and Help Animals.
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5 Ways to Get your Daily Money Wave Email & Trade Alerts:
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- Emailed to your box between 3:45 – 3:50 pm EDT.
- Website menu Commentary/Buy/Sell Signals
- Discord Chat. and X (Twitter) @AboveGreenLine are the fastest for Alerts (please set up “mobile notifications”)
- Text messages: Email us your Cell number & phone carrier (slower).
Thank you,
ATGL