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09/22/2016:  Markets  bounced up more today to re-test the 2194 Highs of August for the S&P 500. 

If the current bounce off Support does not blow thru the August highs, the Markets could be in trouble.

We captured more gains today:

Stopped out of EWZ at $34.50 for 5.6% GAIN.

Stopped out of CDE at $13.10 for 5.4% GAIN.

Stopped out of PE at $32.27 for -2.1% LOSS.

 

Most Leading Funds are in the RED ZONES.

Wait for Money Wave Buys soon, coming out of the Green Zones. We will email you for timing.

 Charts for Leaders     Watch List Page

Current Open Positions

Alert! Market Risk Medium (RED Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.

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– Wednesday Sep 21, 2016

 

09/21/2016:  Markets finally bounced today on NO FED RAISE.  The Dollar dropped, and GOLD & Mining Stocks popped. 

If the current bounce off Support does not blow thru the August highs, the Markets could be in trouble.

 

We captured gains on some Miners:

Stopped out of AG at $12.50 for 9.7% GAIN,

Stopped out of PAAS at $18.25 fro 5.4% GAIN.

Stopped out of GDX at $27.50 for 5.4% GAIN.

We might sell more of the remaining 9 Positions tomorrow if they are in the Red Zones. We will email you for timing.

 Charts for Leaders     Watch List Page

Current Open Positions

Alert! Market Risk Medium (Yellow Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.

 

Questions:  David writes “I noticed that a lot of the open positions have stops at the same price as the purchase vs “place at recent low (support)”. Can you clarify the stop strategy? Thanks!”

Answer:    After the Money Wave is > 50, raise your Stop Loss to where you bought it.    See  Rules

 

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– Monday Sep 19, 2016

OPEN POSITIONS

Date	Symbol	Purchase Price	Stop Loss	Current Price*	Comments
9/14/2016	SINA	$75.80	$75.80	76.96	Money Wave in the Red Zone.
9/15/2016	AMD	$6.02	$6.02	6.16	Money Wave > 50.
9/16/2016	CDE	$12.43	$12.43	12.58	Money Wave > 50.
9/16/2016	EWZ	$32.67	$32.67	32.78	Money Wave > 50.
9/16/2016	PBR	$9.10	$8.81	9.1	Money Wave Buy.
9/16/2016	PE	$32.97	$31.72	32.78	Money Wave Buy.
9/16/2016	SLV	$17.86	$17.86	18.2	Money Wave > 50.
9/19/2016	GDX	$26.09	$25.56	26.09	Money Wave Buy.
9/19/2016	WPX	$12.10	$11.68	12.1	Money Wave Buy.
					Link to All Charts

 

09/17/2016:  Markets were mixed today, after a rally in the morning. If the bounce off Support does not blow thru the August highs, the Markets could be in trouble.

Many are worried about the FED meeting results on Wednesday,  but the over-sold Precious Metals indicate NO FED RAISE, and a Dollar drop.  That should help Oil & Gold.

Money Wave Buys on Friday for:   GDX  &  WPX.

We are watching   AG &  PAAS  to Buy soon.  We will email you when they are ready.

 Charts for Leaders     Watch List Page

Current Open Positions

Alert! Market Risk Medium (Yellow Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.

 

Subscriber Question from Lance: WHY DOES OVERSOLD PRECIOUS METALS MEAN NO FED RAISE?

JUST CURIOUS ?

Answer:  

Precious Metals are some of the Strongest Investments based on High Relative Strength. Most are over-sold, and going into Daily Money Wave Buy Signals, the re-test the recent highs. The US Dollar has risen on expectations of a FED RAISE.

Precious Metals have a High Probability of going back up. If the FED does not RAISE, the Dollar should fall, and Metals should rise.

A proper Technical Analyst should not combine News & Charts, but most subscribers don’t know this, and listen to the media. A Technical Analyst does not care WHY IT HAPPENS… We just know that Strong Investments will have normal CORRECTIONS when they get over-bought, but don’t usually change to BEAR, until they FAIL to MAKE A NEW HIGH. So now the Strong Precious Metals are correcting after recently making new highs, and should re-test the highs again…

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– Weekly Commentary Sep 17, 2016

S&P must Bounce to New Highs soon, or Look Out!

09/17/2016:  Markets were mixed for the week, as the S&P 500 held around the 2120 Support area, but low Oil Prices kept the bounce small, so far. If the bounce off Support does not blow thru the August highs, the Markets could be in trouble.

Many are worried about the FED meeting results on Wednesday,  but the over-sold Precious Metals indicate NO FED RAISE, and a Dollar drop.  That should help Oil & Gold.

Money Wave Buys on Friday for:   CDE   EWZ   PBR   PE   SLV 

We are watching   AG  GDX  PAAS   &  WPX  to Buy soon.  We will email you when they are ready.

 Charts for Leaders     Watch List Page

Current Open Positions

Alert! Market Risk Medium (Yellow Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.

Related Post

– Wednesday Sep 14, 2016

 

09/14/2016:  Markets closed weak after a small rally in the morning… Maybe a little bit lower, but lots of  Leaders are in the Green Zones, waiting for Money Wave Buys.     

Money Wave Buys Today:  SINA  was the only one today, but there should be several more soon.

If you Bought WATT yesterday, please put a very TIGHT SELL STOP LOSS on it as it is 21 % off the Swing Low Support, and yesterday’s Money Wave Buy price was very High!

We are watching AMD  AG   CDE  EWZ  GDX  HPE  PE  SLV & WPX to Buy soon.  We will email you when they are ready.   Charts for Leaders     Watch List Page

Current Open Positions

Q&A from Tuesday:

Questions regarding yesterdays market 9/12/16. The markets found buyers exactly where you indicated at 2130(2134) level August 15 high support. The market then near and at the close acted like it wanted to go higher….closing near the high of the day. Your comment last night indicated the market may go back down to retest today which it has and so far has gone down further. What gave you the clue that the market would go down and retest rather than go higher. Was it the bounce off the bottom(resistance) of the 50 d MA intraday ?

Many thanks, Tom

Answer:

Smart Money does not try to catch a falling knife… Yesterday’s bounce was Short Covering (profit taking) and Bottom Fishing (they don’t have much $$$)… Smart Money waits for a re-test of a Dump… If today holds above yesterday’s low, many will buy. Semis (SMH) are not coming down much at all today. Semis are a LEADER…

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– Monday Sep 12, 2016