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.
Questions, comments, want to hire me? (just kidding... kinda) Email me: firstname.lastname@example.org
GOOD LUCK TOMORROW!