08/02/2016 Daily Commentary: Markets finally broke the Pink Lines (10-day avgs.), and some selling came in. The Strongest Leaders should go up once more. The S&P 500 should drop down soon to test Support around 2130.
Bonds must make Higher Highs soon, or they will correct. Gold Miners made a Higher High today, but are very over-bought.
Crude Oil continued lower to re-test the February Lows… Oil Stocks are not dropping much, telling us Oil could be bottoming soon.
Current Open Positions Most Open Positions are in the Red Zones, so we have set tight Sell Stops. Please check here.
Wait for Money Wave Buys that return to the Green Zones. We are watching AMAT & SID.
We will email or text you when they are ready.
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. Many Funds are having trouble staying Above 90 Relative Strength.
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