Rotate into bullish positions

Window to buy bullish ETF open

The opportunity to rotate into a bullish ETF is here.  We should have Thursday and Friday to buy in.  The RumWave is not quite at a perfect bottom, but it is close enough to turn on the green light.  A likely scenario would be some kind of "good news" about Europe over the weekend spurring a large move that kicks off the whole thing.

The scores for the 4 hr and daily chart do not show a perfect opportunity yet.  From previous rallies we would expect two more days of decline before a snap higher.  However, I don't want to be late to the party so I will rotate out of my 3x Short DJIA ETF and into my 3 x Long DJIA ETF for both the RumWave and the UltraWave... especially if we get some decline tomorrow.  The short position is near a break even point, but I will probably take a bit of a loss (1-2%).  I suspect the next up-wave will be a strong one that breaks us out of this channel we have been in.

The 4 hr chart has some little green candles, but the slow stochastic still has some room to cool off before a big run up.

The daily candles aren't really showing a strong reversal of momentum signal, and the slow stochastic has some room to decline.  The RSI is on an uptick, but if I were a betting man I'd expect it to turn down just a bit, similar to what happened around 25 Jun, before we really take off.

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