Valid question, the bottom held yet again yesterday, which further reinforces today's signal that bottom is in. Every day that bottom holds, the more it becomes support.
Google "Gahns Rule of 4", a method that goes back to the Great Depression on trading stocks.
Triangles are also a common chart trading pattern. Elliot Wave is the hardest one to master. The Fibonacci series is a very important and very common one to learn and use as well. The Fibonacci series shows up everywhere in nature, and the real world, and stocks follow the same series....
The Gann's rule of 4 had already set a solid support wall up, and yesterday it held as folks moved money out of QTMM and into the big running stocks/indexes followed by today's reversal, which confirmed it the support and the bottom. Only way the wall breaks down now is if they do massive dilution share dumping with no care for how low they sell QTMM shares (which they have not seemed to be willing to do), or if the entire world markets do a 10% breaker switch, stock trade halts in a real 2008 or 1987 style panic (yes I traded both of them), and we are a long way from that.
We could trade in this range for days or weeks till news hits and the big run goes of like a moon shot, or news could do it tomorrow.
But the risk of missing the new-cycle-run out ways the risk of buying at this level now.
Way more upside potential and very little down side risk right now.
Note, I was not telling folks to load up at 5 and 6 cents here this year!!!
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