Markets were sharply lower today as the Indices are going down to re-test last week’s Lows. Yesterday the Markets got up near or above the Pink Lines (10-day avgs.), but most of the Indices were quickly back up in the Red Zones (probably too late to Buy for the short term).
Now we need to see a successful re-test the recent Lows. So far the lower Selling Volume could be a sign of a “Double Bottom” or “W” pattern bounce soon. The CNN Fear & Greed Index is down to 9, which is near all time lows (probable Rally coming).
The Markets are currently weak (Below the Green Lines), so please be patient wait for more Money Wave Buy Signals. BUYS SOON – CHARTS The best moves are when the S&P 500 Index is also coming up out of the Green Zone.
BUYS TODAY 5/18/2022 NONE TODAY
BUYS TOMORROW – SWING TRADING STOCKS Shop for a better price earlier in the day with Triple Buy Signal, on the same day that a Daily Money Wave Buy Signal will occur.
RWM INVERSE SMALL CAP FUND Wait for Money Wave Close > 20 with High Volume.
SARK INVERSE ARK INNOVATION FUND Wait for Money Wave Close > 20 with High Volume.
UUP US DOLLAR FUND Money Wave must Close in the Green Zone.
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the WATCH LIST.
The Leaders are Way Above the Green Lines (all Investments eventually return to their Green Lines).
SELLS TODAY
ADM ARCHER DANIELS MIDLAND Slipped below the Buy Price today and was Stopped Out even. (Don’t Take a Loss!) This trade was not logged.
CRK COMSTOCK RESOURCES Slipped below the Buy Price today and was Stopped Out even. (Don’t Take a Loss!) This trade was not logged.
KR KROGER CO. LOWER the Sell Stop Loss again to $46. The Weekly Chart looks fine, and we will probably buy again soon in the Green Zone.
XLP CONSUMER STAPLES FUND LOWER the Sell Stop Loss again below $71. The Weekly Chart looks fine, and we will probably buy again soon in the Green Zone.
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DAY TRADING SETUPS. Several Triple Buy Pops today: BBIG (+18%) SQQQ (+15%) TZA (+11%) VIX (+19%) & SOXS (+15%). Try out the New Side by Side layout.
DAY TRADING FOR INDICES & LARGE CAPS CHARTS.
Bonds were up today, but are Way Below the Green Line.
Crude Oil was down $3.31 today at $109.09. ________________________________________________________________________________________________________________
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Many like to Buy the Swing Trades just before the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and up out of the Green Zone).
Don’t Buy if the Investment has already popped up too much. Money Wave Buy Signals 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, or Low Volume. These have more risk.
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– RWM