07/28/2016 Daily Commentary: Markets were mixed again today, as the S&P 500 is trying to hold above the Pink Line (10-day avg.). Maybe it needs to burp up once more…
The S&P 500 should drop down soon to test Support around 2130. Then it should have another bounce back up to re-test the current Highs. Bonds must make Higher Highs soon, or they will correct.
Current Open Positions We stopped out of IYZ SLV & YNDX on Thursday. Some were bought on the Money Wave Close price, which was well above the Swing Low Support. Now they are in the Red Zones, and we don’t want to get wacked, after having a profit.
Money Wave Buys soon for NTDOY & OKE. We will email you with the next Money Wave Buy Signals.
Many Funds are having trouble staying Above 90 Relative Strength.
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.
