That's the conclusion for this week's market review.
It is also notable that the down trend line in the second chart seems broken out successfully.
I think it may be the time for bull's second leg running up now, or very soon.
Today (June 19, 2009)'s volume is very impressive, especially with a unfilled gap, very bullish. Good sign for the bulls. This Gap is critical for the bulls, I am hoping it can hold unfilled for some time.
In the morning of last Friday (June 19,2009) just after the market opening, we questioned if the bulls are back? So far, the market's bullish mood is pretty promising.
Last Thursday, I have commented the following:"The level 3 support of bulls is holding well during the day !
More important, the down trend line is broken out ! "
last Wednesday, I have the following comments: " A bouncing back from the important support levels as shown in the chart is very expect able."
So far, the chart reading works very well.
Hope you enjoyed the predictions, or even benefited from the comments !
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