Strong bullish showing Friday!
Friday's action was great for those that were long (make money if the market goes up). The RumWave has been suggesting a bullish run and continues to favor further moves to the upside throughout the first half of August. I will continue to hold my 3x DJIA ETF until the RumWave produces a sell signal.
|DJIA 4 hr Chart|
|DJIA Daily Chart|
The Daily chart (above) also has some high oscillator readings, but they are not extreme yet. On a strong bullish run, it is not unusual to see the oscillators stay at relatively high levels for the entirety of the wave.
GOOD LUCK NEXT WEEK!