Markets were mixed today after yesterday’s dump down to the April Lows. There was a nice rally this morning, but Investors are still full of FEAR and the rally disappeared. Volume is low, and the FEAR Index is not making new Highs, maybe indicating a Market bottom soon.
Tomorrow the FED meets and most are expecting the FED to Raise Rates. Maybe they will, and then talk about not raising rates anymore for a while…. Markets are very over-sold, but Investors are waiting for a reason to buy. The Watch List is growing, which is usually Bullish.
The S&P 500 needs to Close above 2653 to pull in more Buyers.
Crude Oil dumped down $3.80 today at $46.10.
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The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY NONE TODAY
Money Wave Buys Signals Soon:
ETSY ETSY, INC
HCP HCP, INC.
LLY ELI LILLY & CO.
MRK MERCK & CO,
PBR PETROBRAS ENERGY Medium Term Buy when Closes Above the Pink Line.
TWLO TWILIO INC.
UNG US NATURAL GAS FUND
VZ VERIZON COMM
XLRE REAL ESTATE FUND
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Click on Watch List.
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).
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SELLS TODAY
EXIT ESRX EXPRESS SCRIPTS if it is going to Close below your Buy Price, or $96.42.
EXIT ARWR ARROWHEAD PHARM if it is going to Close below your Buy Price, or $13.66. This trade was not logged
LOWER the Sell Stop Loss on USO US OIL FUND to $9.50 until it bottoms.
LOWER the Sell Stop Loss on VKTX VIKING THERA. to $8.00 as it is back down in the Green Zone.
Please Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS.
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20).
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.