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.
Sorry for the lack of pictures tonight, but I'm short on time. Here's the deal... the RumWave chart is showing a pivotal point. It is against some support here, but if it breaks through there is a lot of room to run down. Despite the general apathy toward the crisis in Cyprus, Europe posted some pretty weak numbers overnight that keep it in recession-land. I'm not real optimistic about a region in a recession that has a member of its currency group about to "restructure" its banks on the back of an attempted blackmail of Russian bazillionaires. Call me crazy.