I'm looking at positive divergence on the 10 and 30 period LR Slope. In late 02 and early 03 we got a few higher lows on the 10 period and now in 09 we have 1 and possibly a 2nd higher low on the 10 period. I think it's important the market doesn't go to low here and completes the 2nd higher low.
On the monthly chart the current situation seems to favor 1 more leg down before a bottom is put in but of course this does'nt have to be a repeat of 02 and 03. The recent rally is much stronger than the one in late 01 and early 02.
On the monthly chart the current situation seems to favor 1 more leg down before a bottom is put in but of course this does'nt have to be a repeat of 02 and 03. The recent rally is much stronger than the one in late 01 and early 02.
