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.
This market the last 8 days has been very interesting to me (and other stock nerds!) The sideways action on very low volume is very very strange. Volume today on the DJIA was around 77 million. The recent average is around 132 million. It is almost as if someone turned off their big trading algorithms. I'm not sure if that is what is really going on, but it all seems very very strange. Nonetheless, the sideways action is cooling off the 4 hour scores and RumWave scores (below), but the daily scores are still quite high and do not give a lot of room for continued gains in the very short term. I'm still looking for a sharp turn up for a couple hundred points before a more sizable decline that I can capitalize on.
GOOD LUCK TOMORROW!