Having said that, I can not ignore the force behind the latest bounce. "Dead Cat Bounce"? Maybe..
Or, maybe it is the start of a pullback higher in this oversold ETF?
Although I'm longer term (we, in the Elite Zone shorted this when it touched 100$), I think a pullback is due and a pullback into the 76$ could create an interesting buying zone (it is also near the 61.8 Fib level).
Notice also the 78$ level as it may also found to be .. depending on how aggressive the 74$ level buyers are.