It still looks gloomy

No real signs of a reversal

The recent downtrend shows no signs of reversing direction, particularly from the RumWave perspective.  However, Friday produced some very interesting results driving the RumWave in a significant way toward a bottom.  Make no mistake.. it is not time to buy, but the RumWave chart is moving in the right direction.

Daily Scores:

The daily score total (bottom number) is very low, indicating that the market is oversold and some kind of short term bounce is probable.

The DJIA 4 hr chart (above) is showing some support at the 50% retracement of the summer rally.  Also, the RSI_EMA is displaying a bullish divergence.  This isn't the strongest signal in the world, but it's something that supports a short term bounce.

The DJIA daily chart (above) doesn't show anything that I view as particularly bullish.  About the only bullish argument that I can make is that the Bollinger %B is slightly better than the previous day... not a strong signal when you consider all the oscillators I have called up.

Overall, I'm still all cash.  Just patiently waiting for a strong signal.

TSP:  G fund.