• The downtrend line has been broken. Even if the market slips below this trend line again, this break is significant.
• The chart shows the formation of a descending triangle. If the breakout becomes decisive, it is an indication of a potential significant “up” move.
• The chart shows a triple bottom. The triple bottom will offer support for any subsequent correction.
• In formation of the triple bottom, it is significant to note the pattern of higher lows. This is positive.
• The relative strength index (RSI) shows a higher low before the rally. This is positive.
• The rally is occurring on low volume. This is negative.
• The market has moved up too quickly, too far. There may be a short-term pullback.
• The chart shows the formation of a descending triangle. If the breakout becomes decisive, it is an indication of a potential significant “up” move.
• The chart shows a triple bottom. The triple bottom will offer support for any subsequent correction.
• In formation of the triple bottom, it is significant to note the pattern of higher lows. This is positive.
• The relative strength index (RSI) shows a higher low before the rally. This is positive.
• The rally is occurring on low volume. This is negative.
• The market has moved up too quickly, too far. There may be a short-term pullback.