4/30/2023 Markets were higher for the week, after dropping down to the 50-day averages (Red Lines) and then bouncing up. Now the S&P 500 must exceed the recent highs for the rally since the March low to continue. Some Earnings have been better than expected (META & MSFT), while others have disappointed.
Probably one more FED Tightening on Wednesday for another 1/4 point higher, pushing Fed Funds to 5%. Then many are hoping that the FED will be finished Tightening, and later the Economy will pick up speed. But the FEAR Index (VIX) under $17 tells us that Dumb Money is now panic Buying call options (expecting a huge rally).
Currently the S&P 500, DOW 30, and NASDAQ 100 are back Above the Green Lines, but are consolidating sideways, the indicating Indecision. So we will have to WAIT for the Markets to break to the upside or downside, and tell us which direction the Money will flow. We will keep Buying strong investments on pull-backs, and not worry about it.
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 up 0.86%, the S&P 500 was up 0.90% and the NASDAQ 100 was up 1.88%. Most of the major Indices have a Relative Strength below 80, so you should currently own the stronger Securities here.
The Inflation Index (CRB) was down 0.98% for the week and is Below the Green Line, indicating Economic Contraction.
Bonds were up 1.97% for the week, and are Below the Green Line, indicating Economic Expansion.
The US DOLLAR was down 0.15% for the week and is Below the Green Line.
Crude Oil was down 1.40% for the week at $76.78 and GOLD was up 0.43% at $1999.10.
We are now doing micro Day Trades on our new Discord site (free), and now have 172 members. Please join for mobile notifications during the day. Other methods of notification have been too Slow. Also, please check our our Live Streaming on YouTube during Market hours.
More action this week on the Day Trading Scrolling Charts, and DAY TRADING CHARTS FOR INDICES & LARGE CAPS.
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MONEY BUYS SOON:
We are in now in 7 logged Swing Trading Positions for the Short & Medium Term. There are 3 investments on the Short Term Watch List.
Be patient and WAIT for Green Zone Buy Signals!
LONG TERM INVESTMENTS:
Long Term Scrolling Charts (Real Time)
CHWY CHEWY INC. Buy above $52.88 with High Volume with a 3% Trailing Sell Stop Loss below it.
EDU ORIENTAL EDUCATION GROUP Buy above $46.63 with High Volume with a 3% Trailing Sell Stop Loss below it.
PINS PINTEREST INC. Buy above $29.27 with High Volume with a 3% Trailing Sell Stop Loss below it.
RIOT RIOT BLOCKCHAIN Bought on Wednesday’s Daily Money Wave Buy Signal. Target is $13.50, EXIT if it Closes below $10.06.
SH INVERSE S&P 500 FUND Buy above $17.71 with High Volume with a 3% Trailing Sell Stop Loss below it.
TAL TAL EDUCATION GROUP Buy above $10.45 with High Volume with a 3% Trailing Sell Stop Loss below it.
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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.
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ATGL
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