Markets were up again today as the Strongest Leaders are “melting up” on continued Buying. Momentum traders are rotating into the fewer stocks, and the list is becoming very narrow.
The S&P 500 is now over-bought (Top Bollinger Band). Usually when this rally stalls out, the S&P 500 will fade back down to Test the 2872 Break Out level. It would be “Bullish” to Hold and Bounce near 2872… Falling below 2872 could cause Selling. Very few individual stocks are making New Highs.
The Leaders are back up in the Red Zones (probably too late to Buy for the Short Term).
Please be patient and WAIT for the Leaders and Indices to return to their Green Zones for Money Wave Buy Signals.
Crude Oil was up today at $69.65.
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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 soon for:
HEAR TURTLE BEACH CORP.
I INTELSAT GLOBAL
KDP KEURIG DR. PEPPER Buy when KDP Closes above the Pink Line.
XRT RETAIL INDEX 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. 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 CTL CENTURY LINK INC. if it is going to Close below Support of $22.34. This trade was not logged.
EXIT FDC FIRST DATA CORP. if it is going to Close below the Pink Line around $24.99. This trade was not logged.
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.
Related Post
– HEAR
Good Afternoon,
I am trying to create a scan I can use with Stockcharts, is it possible for you to share a scan I can start with? I love your approach to the market as it makes sense to me.
Peace,
Pinellasman aka Ron Davis
Hi Ron. Here is a simple scan for you… Copy and paste it into the StockCharts “Advanced Scan Workbench”.
[type = stock] AND [country = US] AND [Daily SCTR > 90] AND [Daily SMA(20,Daily Volume) > 1000000] AND [Today’s Daily Slow Stoch %D(5,1) < 20] You must have the "Extra Plan" at StockCharts. Good trading, and tell your friends!
Thank you very much!
I talk about your service to all my trade friends.
I do have the extra plan and love Stockcharts.
Have a great weekend & stay safe, the crazies are loose.
Peace,
Ron
Thank you Ron!
You be safe too.