08/23/2016 Daily Commentary: Markets finally went back up to re-test the 2194 high of last week, paused, and some selling came. Looks like the S&P 500 is about to complete Wave 5 up, since the bounce off the Green Line in late June. After Wave 5 up is complete, the S&P 500 should drop down to test Support around 2130.
Check out our New “On Deck” Watch list Page (Investments with Money Wave Buys soon). We will email you when they are ready.
Current Open Positions – ALB “gapped up” $2.65 today to $86.50, so we raised the Sell Stop to $85, and got filled there.
Alert! Market Risk High. 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.
Next Home Runs or Doubles will probably NOT BE in STOCK OR BOND FUNDS… It will probably Inverse Funds or Commodity Funds. ( Coal, Copper, Gasoline, Oil, Steel, etc, but they don’t meet the Rules, yet).=
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