Cautious

Ready to take profits at a moment's notice

Today's market action presented a gap lower at the open and a struggle to end the day slightly negative on the DJIA.  I have changed the stoplight to the "light red" color because I'm seeing some things that I don't really like.  First, there are some bearish divergences out there that no-one seems to be talking about yet, but they have my attention.  Second, some of the Elliot Wave counters have us at a potential inflection point.  Third, my daily and 4 hour scores are still quite high.  Finally, the RumWave chart is in a bit of no-man's land.  It favors a move to the upside, but leaves the door open for a violent move to the downside.  The bottom line is that this market smells a little fishy to me, and I'm suspect of it.  A down day tomorrow (afternoon, that's when I like to make my decisions) would likely be all I need to elect to secure whatever profits I have and get into cash for a while.. at least until I can get a better read on what will happen.

Today's scores:

No change to TSP yet.. 75% C Fund, 25% S fund

GOOD LUCK TOMORROW!

Questions or comments?  Email me:  rumwavetrading@gmail.com