Saw this on 13 July 09, before US markets open. Looks like a bounce in DJ is imminent with the bullish divergences. Want to see if it can propel it above the H&S neckline especially now that the weekly stochastics are at oversold and possibly turning up again. Could mean a negation of the recent H&S breakdown if that happens?
Many have been calling for a retest of March's low (or even new lows) recently. I have been skeptical though as I have been cautiously bullish (esp on STI) since 4 May 09 when it went above the horizontal resistence at 1950 (for STI). Nevertheless, the bottoming of a bear market and the start of the next bull is always a treacherous period and I am mindful of a possible wave 2 correction (with a higher low than March's low) happening before the uptrend could resume.
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