07/12/2016 Daily Commentary: Markets continued higher today on low Volume. The Leaders are not popping much like they did earlier this year. The S&P 500 broke out around 2130… Closing below that could be a “False Breakout” and cause selling. Bonds and Gold finally pulled back some.
The Markets are on Highs, but we are having trouble finding many Investments that are making New Highs + Above 90 Relative Strength. (Warning?)
The Leaders are very over-bought, and Way Above the Green Lines. Tighten up your Sell Stops for Short Term Trades.
Wait for Money Wave Buys in the Green Zones. Most Funds are coming down from the Red Zones.
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.
Current Open Positions We have raised Sell Stop on XME to $27.00 and ALB to $84.75 on the Close.
