Markets are down slightly today, as the weaker Indices are not bouncing at the Pink Lines (10-day avgs.) Recent Money Wave Pops are pitiful, indicating that the Trump Rally needs a correction soon.
The S&P 500 is struggling to re-test the Highs of last week on low Volume (S&P is now 17 points from last week’s High). Leaders are very Over-bought. The Reward / Risk ratio of investing now is poor, so we suggest staying in Cash.
If the S&P 500 fails up here, it would normally correct back down to the Red Line (50-day avg.) to set up for a good bounce.
Money Wave Buys soon!
NONE
SELLS
Exit EXEL EXELIXIS INC today if it is going to Close Below $16.10.
Exit AMKR AMKOR TECHNOLOGY today if it is going to Close Below $11.01.
Exit STLD STEEL DYNAMICS today if it is going to Close Below $37.37.
Exit ECA ENCANA CORP today if it is going to Close Below $12.42.
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Many like to buy the day before, if the Investment has not popped up too much.
Money Wave Buys are usually good for a 3-6 % move in a few days.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buy orders.