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.
Today the market started to give back some of the gains of last week. The daily scores below are still high, but the overall score gave back about 100 which is a step in the right direction. We should get back some of the losses that the short position caused.
Above is a Fibonacci Retracement of the latest impulse. I think a pullback to the 50% or 61.8% retracement lines are likely. It is important to note that this may or may not be the RumWave buy point.. we'll just have to wait and see if the two happen to line up.
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GOOD LUCK TOMORROW!