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.
Another strong showing for the Bulls today as markets continued to rally. I had expected a decline in the second half of the day, but that did not materialize. Nevertheless, a good impulse higher as we continue to ride this wave. Primary Indicator #1 is entering the red zone, joining Primary Indicator #2 and the VSTI. The Leading Directional Indicator is still quite strong, but the exact numerical value of the indicator (I only display it as a binary bullish or bearish signal) is reaching elevated levels, worthy of keeping an eye on in the near future. Below is a capture of the SPY with Fib retracement lines from the top of this particular price node.