S&P must Bounce to New Highs soon, or Look Out!
09/17/2016: Markets were mixed for the week, as the S&P 500 held around the 2120 Support area, but low Oil Prices kept the bounce small, so far. If the bounce off Support does not blow thru the August highs, the Markets could be in trouble.
Many are worried about the FED meeting results on Wednesday, but the over-sold Precious Metals indicate NO FED RAISE, and a Dollar drop. That should help Oil & Gold.
Money Wave Buys on Friday for: CDE EWZ PBR PE SLV
We are watching AG GDX PAAS & WPX to Buy soon. We will email you when they are ready.
Charts for Leaders Watch List Page
Alert! Market Risk Medium (Yellow Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
WHY DOES OVERSOLD PRECIOUS METALS MEAN NO FED RAISE JUST CURIOUS ?
Precious Metals are some of the Strongest Investments based on High Relative Strength. Most are over-sold,and going into
Daily Money Wave Buy Signals, the re-test the recent highs. The US Dollar has risen on expectations of a FED RAISE.
Precious Metals have a High Probability of going back up. If the FED does not RAISE, the Dollar should fall, and Metals should rise.
A proper Technical Analyst should not combine News & Charts, but most subscribers don’t know this, and listen to the media. A Technical Analyst
does not care WHY IT HAPPENS… We just know that Strong Investments will have normal CORRECTIONS when they get over-bought, but don’t usually
change to BEAR, until they FAIL to MAKE A NEW HIGH. So now the Strong Precious Metals are correcting after recently making new highs, and should re-test the highs again…
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