08/17/2016 Daily Commentary: Markets rose slightly today, as the Markets dipped in the morning, but are still holding Above the Pink Lines (10-day avgs.). Looks like the S&P 500 is about to complete Wave 5 up, since the bounce off the Green Line in late June. After Wave 5 up is complete, the S&P 500 should drop down to test Support around 2130.
Utilities have dumped on expectations of Higher Interest Rates.
Current Open Positions We bought AKS & X on Wednesday.
Money Wave Buys soon for AG BTG CLF & GDX. We will email you when they are ready.
When the Market breadth is narrow like it is now (few new highs), either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
