DDM is an ETF that tracks the Dow and is described as:

“The Ultra Dow30 seeks investment results generally equivalent to twice (200%) the performance of the Dow Jones Industrial Average Index.”

That said, there are some very positive signals on this chart (circled in red) that indicate a market rally is probably going to take place soon.

Right off the bat this is what I’m seeing:

1. The downward channel that began early May was tested and then broken on OK volume.  I say OK because it was above average but the day before (the test) was better.
2. Resistance @ $61.45 was also broken in this recent push forward.
3. The 20 day EMA has been crossed.
4. MACD had a beautiful cross a few days earlier and is now on it’s way up.  This signal is confirmed by 3 points i outlined above.

The RSI is not attractive to me.  I don’t like the slope it’s had since pivoting upwards.

I think the buying opportunity is right now.  I would buy @ the current price of $62.45, put a tight stop loss on it and use the $65.00 mark as a potential selling point.  If the price rockets through $65 then the position will need to be reevaluated.