08/22/2016 Daily Commentary: Markets were mixed again today, as major Indices are still holding above the Pink Lines (10-day avgs.) S&P 500 must exceed the 2194 high of last week, or selling could come in. 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 that should have Money Wave Buys soon). We will email you when they are ready.
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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