DJIA daily chart 05-Nov-2004

The DJIA went up 72 points today, not exactly a pause as I predicted yesterday. The trend of waves of lower highs and lower lows has been broken with today's move up. A pause or at least temporary reversal (if not outright reversal) is very likely for Monday, I think. The CCI gray line below the price bars is at it's highest level in more than six months and the parabolic trend up won't continue forever.

The high today on the Dow was 10458, more than 140 points above our target. Should I try to modify my methods so those points won't be left on the table? At this point, considering I think a pause or reversal is imminent, it's not worth the risk. If the market continues up with a pause (highly unlikely) then I may have to rethink my position.