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06/09/2016 Daily Commentary:  Markets dropped down on the opening, as Oil prices pulled back and Bonds soared. Maybe another small rally in the morning, but Markets are very over-bought on the short term.   The S&P 500  has Support at the Pink Line (10-day avg.). . Closing below the 2111 Breakout could be “Bearish”.
The rally since the May 19th should be finished with Wave 5 up (See Chart). Then a pull-back, if tomorrow’s rally FAILS at Wednesday’s high of 2121.

Be patient and Wait for Green Zone Buys. Caution! Most Leading Funds are in or near the Red Zones (probably too late to Buy for the short term).  Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.

“Real Time” Charts for Today

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– Wednesday Jun 8, 2016

06/08/2016 Daily Commentary:  The Volatility Index VIX was up today, maybe signaling that
Smart Money is Buying VIX for a pull-back in the Markets. Markets were up today, but they are very over-bought on the short term.   The S&P 500  was able to go slightly above the April Highs, but other Indices are lagging, and the Volume is poor. Closing below 2111 Breakout could be “Bearish”.
The rally since the May 19th is about to finished Wave 5 up (See Chart). Then a pull-back.

Caution! Most Leading Funds are in or near the Red Zones (probably too late to Buy for the short term). Wait for Green Zone Buys.  Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.

“Real Time” Charts for Today

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– Tuesday Jun 7, 2016

06/07/2016 Daily Commentary:  Not much change today, as the Markets popped up more today, but closed weak. The bounce up at the Red Line (50-day avg.)  from two weeks ago might be over.  The S&P 500  was able to go slightly above the April Highs, but other Indices are lagging, and the Volume is poor. Failure to push higher soon could be a big ‘Double Top’.  The rally since the May 19th low probably finished with Wave 5 up TODAY or in the morning (See Chart). Then a pull-back.

Caution! Most Leading Funds are in or near the Red Zones (probably too late to Buy for the short term). Wait for Green Zone Buys.  Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.

“Real Time” Charts for Today

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– Monday Jun 6, 2016

06/06/2016 Daily Commentary:  Markets popped up more today, continuing the bounce up at the Red Line (50-day avg.)  from two weeks ago.  The S&P 500  was able to go slightly above the April Highs, but other Indices are lagging, and the Volume is poor. Failure to push higher soon could be a big ‘Double Top’.  The rally since the May 19th low should finish with Wave 5 up TOMORROW (See Chart). Then a pull-back.

Caution! Most Leading Funds are in or near the Red Zones (probably too late to Buy for the short term). Wait for Green Zone Buys.  Many Funds are having trouble staying Above 90 Relative Strength. Markets are tired.

“Real Time” Charts for Today

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– Saturday Jun 4, 2016

06/03/2016 Weekly Commentary:  Markets were mixed for the week, as the Indices struggled near the April high resistance. On Friday, Markets dropped down to the Pink Lines (10-day avgs) on bad news, but were able to bounce back up.  The S&P 500  needs to exceed the April Highs soon, or this could be a big ‘Double Top’.  The rally since the May 19th low appears to be about finished with Wave 5 up (See Chart).

Thursday’s Money Wave Buy KGC was up 15%, and  Gold Miners popped 11% on pitiful Employment numbers.

Money Wave Buy soon for AMD. Caution! Most Funds are coming down from the Red Zones (probably too late to Buy for the short term). Wait for Green Zone Buys.

Many Funds are having trouble staying Above 90 Relative Strength.

“Real Time” Charts for Today

 

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– Thursday Jun 2, 2016