08/03/2016 Daily Commentary: Markets rebounded slightly today after finally falling below the Pink Lines (10-day avgs.) The Strongest Leaders are going back up to re-test the highs. The S&P 500 should drop down soon to test Support around 2130.
Crude Oil popped up today after going into a Money Wave Buy… Oil Stocks are not dropping much, telling us Oil could be bottoming soon.
Curent Open Positions We AMAT & SID on Wednesday. SID was not logged, as it was already up 8% today.
We are watching AMD NAVI & TXN. 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.
Hi!
do you have buy and sell recommendations for commodities? if so this link does not provide them.
We use ETFs to follow Commodities… Currently Silver (SLV) Gold (GLD or IAU) Gold Miners (GDX) Gov’t Bonds (TLT) all meet the RULES and we have been trading recently on our Daily Commentary.
Others such as Dollar (UUP) OIL (USO) Gasoline (UGA) & Commodity Index (DBC) are in Bear Markets.
thank you