09/12/2016: Markets popped up today, as Buyers came in at the 2130 Support of May 2015. Maybe a re-test down of today’s low soon, then the S&P 500 must Make New Highs above the recent 2194 High to continue this rally since the February lows.
Bonds have weakened, and broke the Red Line (50-day avg.) so Interest Rates rose.
Money Wave Buys: We are watching AMD GDX HPE SINA SMH & WATT to Buy soon. We will email you when they are ready. Watch List Page
Current Open Positions – None
Alert! Market Risk Medium (Yellow Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
Questions regarding yesterdays market 9/12/16. The markets found buyers exactly where you indicated at 2130(2134) level August 15 high support. The market then near and at the close acted like it wanted to go higher….closing near the high of the day. Your comment last night indicated the market may go back down to retest today which it has and so far has gone down further. What gave you the clue that the market would go down and retest rather than go higher. Was it the bounce off the bottom(resistance) of the 50 d MA intraday ? Many thanks Tom Lekavich
Smart Money does not try to catch a falling knife… Yesterday’s bounce was Short Covering (profit taking) and Bottom Fishing (they don’t have much $$$)… Smart Money waits for a re-test of a Dump… If today holds above yesterday’s low, many will buy. Semis (SMH) are not coming down much at all today. Semis are a LEADER…
Thanks so much. So clearly said. I guess i was not the Smart Money this time around.
Today the S&P is trying to hold 2120 again… Get ready to Buy more, if it Holds!
Thanks. You really have a great insight on the market. Really feel like i have a knowledgeable coach. Tom
Thanks, Tom!