I also added the triple to show how tight we have gotten on the weekly scale -- you actually have to go back to early 2013 pre-$266 bubble to find us this tight on the bands suggesting an explosive move out of this consolidation.
Lastly , SCMR trends has printed a signal for long entry that looks very compelling to take a long position with a tight stop. I am looking for this to pick up some upside steam in the next 1-2 weeks -- specifically mid-July
Also even though the last few reversal signals on the weekly have been short-lived, they still at least followed through for 50-100 bucks. Hopefully (and eventually) it will stick for a major run.
The last thing to note is there is a nuance between "trend state" and "reversal". A reversal (what this is) is basically like the base minimum amount of evidence to say that probably the blue bar is the pivot low. This would still precede the amount up move needed to fully change the trend to up.