06/27/2016 Daily Commentary: Selling continued today, but the Markets are becoming very over-sold. The Fear Index (VIX) dropped 7% today, indicating that the Panic Buying of Put Options is drying up.
If this is a Wave 2 down, (after completing Wave 1 from the Feb lows to Jun high), the target would be about a 62% retracement, to about 1930-1940 on the S&P 500. The Markets would normally bounce up some, first.
Money Wave Buy on Monday for WCN. Be patient, and wait for Money Wave Buys coming out of the Green Zones. We will email when they are ready.
Many Funds are having trouble staying Above 90 Relative Strength.
Markets are tired. We would like to warn you: 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.