06/13/2016 Daily Commentary: Markets were down today, as the Leaders should return back down to the Green Zones. Last week, many Indices could not get above the April highs, indicating a lack of Buyers.
Markets were very over-bought on the short term, and there should finally be some Money Wave Buy setups later this week. S&P 500 should bounce soon near the Red Line (50-day avg.).
Be patient and Wait for Green Zone Buys. Most Leading Funds were in or near the Red Zones (probably too late to Buy for the short term). Money Wave Buys soon for ALB, MTW, OCLR & ARIA We will email when they are ready.
Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.
