Monday, June 18, 2012

Still some bullish room to run, but remain ready to secure profits.

ALERT:  This is a change in status for the RumWave.  I think there is still one more impulse to the wave up, but we are getting very hot on the daily indicator scores below.  Conservative followers may take profits here.  However, I am holding my long positions. 

Today issued a bit of relief on some of the chart oscillators (Bollenger %B in particular), but the overall daily score increased in all three categories.  Additionally, the candlesticks on the 4 hour chart are showing a slowdown as we predicted last Friday.  This jives with the Elliot Wave count which suggests another push higher after this week's soft patch.  

 The daily chart below shows the wave trend still intact.

Thanks for reading!

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