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 market action today was fairly non-eventful. Sideways action dominated most of the day, but the slow stochastic on the 4 hour chart reached very high levels. Interestingly, the EUR/USD had a rip your face off rally the last 24 hours or so with almost no impact on our market. Kind of strange if you ask me. I'm still in my long positions with stops at my break even points.
You'll probably notice that the 4 hour score turned red today. This suggests that the path of least resistance is down or sideways the next few days to get it back to lower levels.
TSP GAMEPLAN: Hold. If you are in the C fund or S fund, stay there. If you are in the G fund stay there while we wait out a short term giveback.
Questions or comments? Email me: firstname.lastname@example.org
GOOD LUCK TOMORROW!