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August 13, 2016

Saturday Aug 13, 2016

08/13/2016 Weekly Commentary:  Markets held above the Pink Lines (10-day avgs.) all week…  Looks like the S&P 500 is about to complete Wave 5 up, since the bounce off the Green Line in late June.

The Inverse VIX XIV and Small Caps IWM were not able to make new Highs this time up, indicating exhaustion. After Wave 5 up is complete, the S&P 500 should drop down to test Support around 2130.

There are plenty of divergences indicating a narrowing, and topping Market (See Chart Above), but it has not mattered with the super low Interest Rates.  It will normally take more upward action from rising Commodities prices, to crack the Bond Markets.

Current Open Positions  Nimble traders should have plenty of Cash for a pull-back soon, as we sold our last position Nintendo NTDOY on Friday for a 6.4% gain..

Money Wave Buys soon for AKS   CLF  FCX RICE  X  XME &   Z   We will email you when they 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.

“Real Time” Charts for Today

Divergences are showing Weakness on Markets!
Divergences are showing Weakness on Markets!

Posted By AbovetheGreenLine at 8:09 pm 4 Comments

Comments

  1. VolatilitySquared says

    August 13, 2016 at 9:54 pm

    Current S&P multiplies also “stretched”. No sale there either.

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  2. zceat says

    August 14, 2016 at 7:50 pm

    would appreciate a live link to $BPSPX

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    • AbovetheGreenLine says

      August 14, 2016 at 8:48 pm

      Chart of Bullish % of S&P 500.

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      • zceat says

        August 15, 2016 at 8:03 am

        TY

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