Edit: I meant to say lows from October came on higher volume and the rally failed because it did not come on volume that was even higher than the capitulation selling that led to the October bottom. Many of the major indices have been treading water for more than a month making the argument of a double or triple bottom tenuous at best in my humble opinion.
That said we have formed a lower volume retest in many instances of the October bottoms with a higher volume rally. Will it continue?
It could if we get enough buying interest.
I'm just not sure the market has reached a level of apathy that was anything like we had at the last major bottom in October 2002.
Time and actual buyers will be necessary to make this a true lasting bottom. We need to see a little more buying each day than we saw overall of selling each day over the last month.
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