This market has some fight in it. At the close today the RumWave chart still did not break down so the red light is not out. This market has already proven that it is not afraid to take an overbought condition and make it even more overbought with big news. The perfect example was the QE3 announcement. It could happen again with the fiscal cliff. Once again, if I was in a bullish position I'd stay in it.
I genuinely don't think a RumWave "buy" signal is possible before the end of the year so it looks like the annual gain for 2012 will be 57%. If we would have stayed in past my most recent decision to sell it would be up about 5% more, but I'm very happy with my decision given the information I had. I'd do it again in a heartbeat.
Today's scores:
If you are good at color vision tests, you may notice that the RumWave score is slightly less red than the others. This is because one of the variables that go into the calculation is actually declining right now. I'm keeping an eye on it, as it could lead to a danger sign. But for now, all seems good.
GOOD LUCK TOMORROW!
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