Wrong about the bounce

I was wrong about the bounce

I really thought we would gap higher this morning based on the bullish divergences I was seeing on yesterday's charts.  However, the market proved me incorrect.  The bullish divergences are still very easily seen on 1 hr charts of the DJIA, S&P, and RUT.  The QQQ does not show a bullish divergence.

The RumWave system is very close to the "green light."  I just need a little more downside movement and the trigger will probably be met.  Despite not quite having the complete green light signal, I did begin scaling into bullish UDOW positions.

We haven't had a green light yet this year.  When it does happen, remember that the time horizon could be fairly short, especially given the current levels of the indexes.

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