06/30/2016 Daily Commentary: Markets continued up more today, as the 2nd Quarter ended, and the Funds like to get bonuses. Volume was lower, and the Markets are quickly becoming over-bought, with pajama boys buying before the Holiday on Monday. Consumer Staples XLP, Utilities XLU, and Metals & Mining XME all squirted like a big Short Squeeze was put on them today.
Wait for Money Wave Buys in the Green Zones. Most Funds should be back up in the Red Zones tomorrow.
Many Funds are having trouble staying Above 90 Relative Strength.
Markets are tired. We would like to warn you: 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.
