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.
Reviewing the scores below, the bulls look like they are poised for a little fight back. The 4 hour score is very very low which gives the bulls the fuel they need to rocket up some. However, the daily score still lends itself to a general move lower over the short term and so does the RumWave. The RumWave is closer to a bottom than it is to a top. For that reason I'm not going to get into another short position given the information I have. Of course, I always reserve the right to change my mind! Here is today's market data as reported on WSJ.com:
For today's scores, I zoomed out a bit to show you all the info that I track. Note the 4 hour graph (3rd one down). It is at super low levels. Previously, the market rebounded a little when this happened. But, my "buy" signal for the RumWave has not been triggered so I'm still waiting to make any moves.
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GOOD LUCK TOMORROW!