08/16/2016 Daily Commentary: Markets dropped slightly today, as Buyers are about out of $$$. Looks like the S&P 500 is about to complete Wave 5 up, since the bounce off the Green Line in late June. After Wave 5 up is complete, the S&P 500 should drop down to test Support around 2130.
Utilities have dumped on expectations of Higher Interest Rates.
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.