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's ECB rate move had a very positive effect on the market at the start of the trading session, but weakness / bearishness prevailed throughout the rest of the day. My dashboard indicators are accelerating to the downside (shown with the red arrow on Primary Indicator #2.) Additionally, small caps had the first candle below their recent uptrend trendline on my chart (circled in blue below.) The S&P still looks okay, and we probably had enough of a decline today to see a higher day tomorrow, but my indicators are still causing me to analyze the market as one that should be treated with caution.