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August 11, 2016

Thursday Aug 11, 2016

08/11/2016 Daily Commentary:  Markets continued the bounce up off the Pink Lines (10-day avgs.) today…  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.

Current Open Positions  Nimble traders should have plenty of Cash for a pull-back soon.

Money Wave Buys soon for AKS   CLF  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.

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

XIV Failed to make new Highs today!
XIV Failed to make new Highs today!

Posted By AbovetheGreenLine at 8:12 pm 2 Comments

Comments

  1. begger says

    August 12, 2016 at 7:23 am

    Can’t get into Forum. Says “unauthorized”. Why? I’m signed up.

    Log in to Reply
  2. AbovetheGreenLine says

    August 12, 2016 at 10:32 pm

    Please log out, and log back in for fix.

    Thank you!

    Log in to Reply

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

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