Markets were higher again today with low Volume as the S&P 500 tries to Close above the Pink Line Resistance (10-day avg.) at 2477.
We are reluctant to buy more at this level as the Markets could go back down once more. The Inverse Funds (see Watch List below) are back down in the Green Zones for a Money Wave Buy soon.
Longer term the Markets are extremely Over-Sold and should return back up towards the Green Line after backing and filling.
Crude Oil was up $0.30 today at $45.75.
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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:
PSQ INVERSE NASDAQ 100 FUND
RWM INVERSE SMALL CAP FUND Money Wave must Close in the Green Zone.
SH INVERSE S&P 500 FUND
TLT US GOV’T. BOND FUND
NIHD NII HOLDINGS Place Buy Stop Order above $4.49.
XLU UTILITIES FUND Medium Term. Wait for Close Above the Pink Line
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 CROX CROCS, INC. if it is going to Close below your Buy Price, or $25.97.
EXIT ETSY ETSY INC. if it is going to Close below your Buy Price, or $47.21.
LOWER the Sell Stop Loss on UNG US NATURAL GAS FUND to $24.00 until it bottoms. The Relative Strength is still 94 from ETFScreen.com, and UNG 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.
HAPPY NEW YEAR!
I tried to find a setting to illustrate the “Spread Indicator” as discussed in the comments today.
Neither I nor Stock Charts.com could come up with a good reference point.
Can you advise, please?
The Spread Indicator is simply a visual, of the Chart –SPY on top of SPY, and add Color Box.
Click on “Chart Settings” on the right.
Go down to “Indicators” drop down menu… Select Price, then Parameter is -SPY.
Below that: Go down to “Indicators” drop down menu… Select Price, then Parameter is SPY.
Fill in Box with a color.
Good trading, and tell your friends!