06/11/2016 Weekly Commentary: Markets were down slightly for the week, as the S&P 500 had a ‘False Breakout’ at 2111, and Oil prices pulled back. Many Indices could not get above the April highs, indicating a lack of Buyers. Markets were very over-bought on the short term, and there should finally be some Money Wave Buy setups next week.
Interest Rates dumped on the weak World Economy, and are down near the February lows. Markets were very over-bought on the short term, and there should finally be some Money Wave Buy setups next week.
Be patient and Wait for Green Zone Buys. Most Leading Funds were in or near the Red Zones (probably too late to Buy for the short term). Money Wave Buys soon for ALB, MTW, and OCLR. We will email when they are ready.
Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.
