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Originally Posted by coolhand

After today's upside follow through of Tuesday big reversal (bottom), the odds just went up that fresh highs may be coming in the days ahead.




Both charts show price poised to challenge previous all-time highs. Momentum looks like it may be getting ready to turn back up. Strength has certainly turned higher and volume was on the robust side. It sure looks like a bottom is in. Now price has to test overhead

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The pullback in stocks continued on Tuesday, but a Turnaround Tuesday it was. After the opening bell was met with severe selling, we saw some buyers step up fairly quickly, and from there we got a steady move higher until about 10 minutes before the close when we did see some selling before the bell rang. The Dow and S&P 500 ended the day slightly higher - a huge reversal, while the Nasdaq and small caps continue to go their own way, and yesterday that was down.

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