It seems as though the bears, at least in the intermediate term have lost their strength. It looks as though a solid double bottom was put in and will hold for now. The 1 day MACD will turn up with any sort of upside movement and the bear trend line is very close to being invalidated. Expecting a small run up to at least 270 within the next week or so. If the bulls have enough strength to break 270, 300 will be the next target. But for now, look for some bulls on parade.