08/08/2016 Daily Commentary: Nothing to report today…MarketsĀ were mixed on lower Volume.Ā The S&P 500 could be inĀ Wave 5 up, since the bounce off the Green Line in late June. Ā After Wave 5 is complete,Ā the S&P 500 should drop downĀ to test Support around 2130.
Current Open PositionsĀ Ā WeĀ 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 Ā 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.
āReal Timeā ChartsĀ for Today
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