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 small selloff drove RUM wave indicators lower. Primary Indicator #2 retreated and the Very Short Term Indicator reached the green zone. Neither one indicates that the consolidation / correction is complete, however it is getting closer to a bounce point. In the SPY and IWM charts below I have highlighted Fib retracement levels that could provide support if we continue to see lower moves. I was personally stopped out of all my equity market positions as a result of my trailing stop.