And you learned that where? The markets are dynamic, when drawing trend lines on a chart you very often leave out insignificant highs or lows in order to capture the true trend. It's not always as it appears in the textbooks but, you only learn that from a lot of personal research and observation. What we have now on the SBCO chart is what is known as a BULL Trap. The price breaks up sharply to the nearest resistance point. In this case it's the 200 day MA. Two consecutive closes above the 200 day average makes it very interesting for the bears because the market is now extremely overbought but, since the price broke the 200 day average, naive bulls will be more than willing to buy now and the bears will have a field day aggressively selling into those buy orders and driving the price back down into Oversold territory once again. The next rally will be somewhat of a disappointment for the bulls because it will not be to new highs. Rather it will look more like a normal Fibonacci retracement off the lows at the Oversold point. By the time the bulls realize it was only a spike in a bear market, all of their profits from the initial rally will have disappeared. I'm not going to debate this with you. You can believe it or not I'm only trying to show you what in my opinion is actually happening here. Time will show you the truth. It always does.
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