7900 was the bottom of this downtrend -Time for the Bull Market!
Updated
Hey guys,
I strongly believe 7900 was the bottom of this downtrend/correction, and from here on out, we're on a upward bullish trend straight to all new highs.
I believe so for several reasons...
1) 7900 was the target for the major head and shoulders we had, as well as the minor head and shoulders that took us from 8200 to 7900.
2) We experienced a double bottom, with the same structure and pattern as the one that occurred a few days after the Consensus 2016 event.
3) We broke out of the 200-day MA.
I strongly believe 7900 was the bottom of this downtrend/correction, and from here on out, we're on a upward bullish trend straight to all new highs.
I believe so for several reasons...
1) 7900 was the target for the major head and shoulders we had, as well as the minor head and shoulders that took us from 8200 to 7900.
2) We experienced a double bottom, with the same structure and pattern as the one that occurred a few days after the Consensus 2016 event.
3) We broke out of the 200-day MA.
Note
Note
Refer to my new chart below:
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