We failed to make a new bottom during the last bear run, but we got kind of close, which suggests a possible double bottom, kind of like the double top in June, as I've illustrated on the chart. There is also a triangle forming (dotted blue lines) that may determine which way we go in the long-term. Break down and we're headed way down, break up, and we may head way up. It all depends.
We've had enough good news that I think it should be affecting the markets at some point, even if it's not immediately noticeable. I just noticed this interesting double bottom pattern and thought I would share. I think we're due a long-awaited test of the long-term downtrend shown by the red arrow.
We've had enough good news that I think it should be affecting the markets at some point, even if it's not immediately noticeable. I just noticed this interesting double bottom pattern and thought I would share. I think we're due a long-awaited test of the long-term downtrend shown by the red arrow.