RumWave says HOLD
Over the last couple days I've had several people ask me if I am still holding my long positions. The answer is yes. However, I could take a 6+% profit here and walk away. That's not what the RumWave's emotionless recommendation is telling me to do. It says to continue holding. So I still am looking for a fairly strong down-move before continuing higher for one more impulse.
The daily scores (above) are showing a lot of red. Today didn't help those 4 hr and daily scores cool off any. The pending decline is inevitable, and the longer the market waits the more violent it will probably be. Regardless, the RumWave chart (that I don't post on this blog) has not met its sell criteria. So, I will keep holding. I think there is one more leg up to go before a sizeable decline.
The momentum is drying up on the candlesticks and the slow stochastic is still really high. Not strong bullish signs. It is worth noting that the market doesn't always behave in a totally rational manner, so we could go a bit higher.
The daily chart is still showing overbought indications. I still expect a pullback to cool off those oscillators that are at very high levels.
BEST OF LUCK TOMORROW!