This is where the real fight begins.
A new short-term trend was accompanied by very strong trading volume, suggesting an emergence of buying demand.
Two indices have broken above key levels for the first time in over three months, but a pause may be on the way.
Prior resistance at $21.50 may now possibly function as support.
Has the fuel that propelled the markets higher of late been spent?
The name has formed a 'bullish reversal pattern.'
The Dow has recently seen a 2,000-point trough-to-peak gain.
At the very end of December, the shorter of the two downtrend lines was violated suggesting a possible reversal at hand.
Our analogy of the markets being 'akin to dry wood waiting for a spark' last Friday was prescient.
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