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August 8, 2016

Monday Aug 8, 2016

08/08/2016 Daily Commentary: Nothing to report today…Markets were mixed on lower Volume.  The S&P 500 could be in Wave 5 up, since the bounce off the Green Line in late June.  After Wave 5 is complete, the S&P 500 should drop down to test Support around 2130.

Current Open Positions  We have Closed out all but 2 positions. Most Leaders are in the Red Zones.
Money Wave Buys soon for SLV. We will email you when it is are ready.

When the Market breadth is narrow like it is now (few new highs), 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. None of the major Indices have Above 90 Relative  Strength. Only ETFs of Metals GDXJ, GDX XME, SLV, Semis SMH, and a few Country Funds EWZ, & EWT have good Volume and Above 90 R S.

“Real Time” Charts for Today

Waiting to Buy Brazil Fund EWZ near the Red Line.
Waiting to Buy Brazil Fund EWZ near the Red Line.

Posted By AbovetheGreenLine at 6:49 pm Leave a Comment

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SH Chart
Inverse S&P 500 Fund (SH) will have a Money Wave Buy today.

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