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June 30, 2016 – Weekend Market Comment

June 30 – Welcome to my weekend market comment, an analysis tool I use in my own portfolio decisions, published free to the web every weekend before the New York opening bell. You can read the latest version each week by bookmarking http://cme4pif.blogspot.ca/. For full details read my disclaimer (link at the bottom of this page).

No full market comment this weekend as I am sailing for 3 days. Thursday was a surprise bounce predicted last week. Gold did well now is the time to review our holdings, and consider some profit taking.



Charts 100 200 series click here



Charts 300 series click here
 




What I Think

Thursdays rally was impressive with a strong gap up. If in the coming week we break in to a new all time high this rally could go much further and we will finally break in to new highs signaling a strong bull market.

  
The good news, breath is very strong with a lot of S&P500 stocks hitting 52 week highs and nearly zero hitting 52 week lows. 

The bad news, the rally has been lead by consumer staples and utilities. Gold marches ahead.  Very big lags in tech and consumer discretionary stocks signaling a mood of over all caution. 









You can learn more about my indicators by visiting the CME4PIF school by clicking here.


Don't squint, All graphics can be enlarged by click on them.

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Yet another parabolic up week for the markets. Honestly folks valuations are really stretched here. The air is so thin at this altitude. Then again the markets can and do (on a short term basis) anything they want. Still I would expect a little pull-back in the next two weeks.


Lets see what is in the charts this week:

CLICK HERE: To see the 100 and 200 series charts



101 Bull Bear Bull market (dark green over red) and now the short term (light green) is up sharply. Also note the dark green 50 day average is in a firm uptrend. NOTICE THE SLOPE (second window), this could be part of a new long term uptrend.Bull market -- expect bullish outcomes…