If it reaches ~3960 again and bounces, that would be a double bottom. But knowing this skanky PA market environment, it will bounce up, then find support again to make it a triple bottom, then blow through it south to the past October lows. I mean, that is what the pessimists want, those bastuds.
%% Good word pics. And some times hire a pro to mark the trees, not the boundary line trees usually. And pro cutters+ stackers like IBKR/SCHW .Loggers like CAT,DEER machines+ chain saws, but those are bigger risk reward
%% WELL yes + its a common pattern for a double bottom to reverse within a couple of tics, say on weekly candle chart LOL.So another common pattern is making new highs in an uptrend. So plenty of triple tops, quad tops + more ..... Time frames vary, we're not in a bear market ,but bear of 2000-2002, QQQ, made double bottom on monthly charts, then went down again+ again, years . Same way on uptrends, except SPY makes higher highs many months.
Hey Easymon, you got a pdf of that chapter by any chance? I'd like to take a look at it to see if the book is worth buying or not.