Some of my readers will recognize my previous work from the Reversion to the Unified Mean (RUM) Wave blog. I wrote it in relative anonymity for a couple years. That work can now be found here.
The daily scores show a very green RumWave score. However, it is not time to buy. I think I need to re-calibrate the green return for that one. The 4 Hr and Daily DJIA chart scores are cooling off. I think there is still significant room to decline. It seems likely to continue all this week, as the Euro panic just kicked off again.
My interpretation of the 4 hr chart is that we may get a little pause in the decline, but the red and purple lines on the slow stochastic have ample room to run down.
Today was the first red candle on the chart (these are Heikin Ashi candles, not standard ones). There is plenty of room to decline on all of the oscillators below the chart.
Bottom line, there is still downside ahead.
Best of luck tomorrow!