08/03/2016 Daily Commentary: Markets rebounded slightly today after finally falling below the Pink Lines (10-day avgs.) The Strongest Leaders are going back up to re-test the highs. The S&P 500 should drop down soon to test Support around 2130.
Crude Oil popped up today after going into a Money Wave Buy… Oil Stocks are not dropping much, telling us Oil could be bottoming soon.
Curent Open Positions We AMAT & SID on Wednesday. SID was not logged, as it was already up 8% today.
We are watching AMD NAVI & TXN. We will email or text you when they are ready.
When Markets are tired like they are now, either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction. Many Funds are having trouble staying Above 90 Relative Strength.
