Pullback is in order

Pullback needed


Today's action was a non-event.  Everyone is just waiting to see what happens with the Fed and ECB this week.  A speculative rally might hit tomorrow, but that will send the daily scores into the red.  Below we can see how the 4 hr score is at the point at which it has traditionally pulled back.








The 4 hr candlesticks are showing some signs of consolidation.  The Slow Stochastic, %B, and RSI all favor a temporary decline.




For the daily chart above, I changed the candlesticks to a traditional depiction versus the Heikin Ashi ones I usually post.  I changed it today to display what may be a tweezers top.  Such a signal would indicate a trend reversal.

Overall, I will keep my positions where they are.  There is the slight chance of an ECB inspired push to ridiculously overbought levels and the RumWave is still showing a positive trend for the next week or two.

Best of luck tomorrow!