Maybe even have bottomed. Why do I say that? Easy. Technical analysis. I look at the one-year Naz chart on yahoo finance. Then I connect the lows. Do you see how my yellow paper goes from going down to going up (I have to add a second piece of paper and point it up to make the new latest dots match). Now, we could get a huge down day that goes below that up trendline, and my TA is then out the window and we are going lower. But based on my analysis, we are going higher from here. Bet accordingly.
A lot of people think this Soy. But the Macro situation is precarious. @SoyUnGanador you been studying T/A recently?
What dots? The following is what your two pieces of paper should look like, as represented by the two yellow lines here... The NAZ only hope is that the green line, which represents a DB, holds firm.
What I am saying is, it's not your chart that is wrong...It is where you drew your lines that is wrong. There is no uptrend yet. We are in a DB (double-bottom). On average, right after mid-terms markets tend to rally as if a relief-valve fired and the election results are known. The other side of that is who takes control of congress.
Can't you see? Soy is undergoing a PhD in trend line reading at one of the most prestigious universities. They even employ novel techniques such as reading yahoo charts and ruler replacement by note-taking pages.
China may reopen it's economy soon the signs are there it would create a major pop in related stuff. US midterm elections likely bullish. Earnings definitely bullish overall. Seasonality bullish. A ton of M&A activity in Canada recently. The uptrend is there in TSX commodity stocks. Might be nothing I guess .
I fear he might run out of pieces of Brown paper if he progresses to Support and Resistance, Channels etc.