Without a doubt, this has been an amazing rally. Since the last green light the RumWave method has returned 18%, surpassing the Dow. Although we missed the first quarter's move, I feel much better now that we have caught up to and passed my stated benchmark, the DJIA. Now we just have to wait for a sell signal.
My daily scoring system shows the DJIA in overbought territory, but so does almost every other oscillator out there.
Below are the historical scores since I developed this system. The farthest right point is the most recent data point. As you can see, things are pretty hot.
Below are graphs of the components that create the overall daily scores. All of them are very high compared to historic data.
Next is a 4 hour chart of the DJIA (each candle represents 4 hours of time.) Again, no signs of breakdown.