Daily Commentary07/11/2016 Daily Commentary: Markets popped up to new Highs today, but on low Volume. Some of the buying was Short Covering. Some Investors seem to be buying because Interest Rates collapsed last week. Historically that is not a good reason to Buy Equities, which could explain the Low Volume and lack of strong Buying. The Markets are on Highs, and we are having trouble finding many Investments that are making New Highs + Above 90 Relative Strength. (Warning?) The Leaders are very over-bought, and Way Above the Green Lines. Tighten up your Sell Stops for Short Term Trades. Wait for Money Wave Buys in the Green Zones. Most Funds are coming down from the Red Zones. We will email you with the next Money Wave Buy Signals. Many Funds are having trouble staying Above 90 Relative Strength. 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. Current Open Positions We have raised Sell Stop on XME to $26.00 and ALB to $83.00 on the Close.
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S&P 500 Closed on new Highs today.