Stock Market is Going to Rally Near Term

A quick update....I have some longer term indicators on the DOW suggesting that a decent rally is about to take place.  Therefore, I went long a swing trading position on today's close.  Went long the DDM (DOW JONES DOUBLE LEVERAGED ETF) at 59.34.  My will may be tested but that is okay since I have a very small size on.  I do NOT trade big sizes when I trade against the trend.  That is a big NO NO.

Let's clarify.  Could we go lower?  YES!  This is a speculative swing trade and I believe we will see DOW 12000 before my 1170 target on the S&P 500 is met.  This will be a bear market rally in the bigger downtrend.  I will watch closely and stop it out if I don't like the action.  However, this indicator is very reliable over the last 15 years and I don't see why it wouldn't generate a robust bounce here.  The bearish sentiment is climbing by the day.  I hear the word "crash" quite a bit.  While I think the market will crash, it will probably not happen here.  It will probably take a couple months; most likely the August to October timeframe.

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