06/02/2016 Daily Commentary: Markets edged higher today, as the S&P 500 creeps back up to the April high of 2111. The S&P 500 needs to exceed the April Highs soon, or this could be a big ‘Double Top’. The rally since the May 19th low appears to be about finished with Wave 5 up (See Chart and below).
Money Wave Buy 0n Thursday KGC . Gold Miners should bounce soon. Caution! Most Funds are coming down from the Red Zones (probably too late to Buy for the short term).Wait for Green Zone Buys.
Many Funds are having trouble staying Above 90 Relative Strength.
