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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 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.

Read My Disclaimer Here