Don't look now, but we have a nice little rally on our hands. From the day I turned on the green light my leveraged ETF has moved 10% to the upside. I fully expect some of that to be given back next week.
Daily scores:
The daily scores are reflecting a market that is overbought in the short term. The red scores on the 4 hr and the orange scores on the daily tell me that we need to have a sideways or downward correction. However, I don't plan to exit my positions when it happens. I'll wait for the RumWave chart to tell me it is time to get out.
The 4 hr chart (above) shows a little inverted head and shoulders pattern. We've almost met it's target of 13,000 to 13,100.
The daily chart (above) is showing a bullish cross on the MACD. This is a good example of why I'm not that big of a fan of the MACD. The bullish crossover is showing itself a week after the RumWave gave the "go" signal. I don't find late signals to be all that helpful.
TSP Gameplan: C and /or S fund
401k Gamplan: mirror the DJIA
GOOD LUCK NEXT WEEK!
Questions, comments? Email me: rumwavetrading@gmail.com
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