Sideways consolidation almost done
The market has seemingly been trending sideways, potentially setting up for another jump. If / when we get it, it should be the last impulse on this particular RumWave move. I'm debating whether or not to put on a small play in the event we see a break to the upside. I'll sleep on it and see where we open tomorrow. Ideally, the market would break downward a bit, allowing some of the oscillators and the daily scores (below) to descend. The 4 hr score backed down a bit, but the Daily score was little changed. The RumWave chart does support another move up before ending the wave.
I thnk the slow stochastic red line (on the 4 hr chart above) has declined enough for the bulls to reattack. The %B also shows room to move higher in the very short term.
The daily chart (above) still looks like it wants to decline a little before pushing back higher.
GOOD LUCK TOMORROW!