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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Hank Scorpio who wrote (208495)	3/8/2025 6:40:25 AM
From: GROUND ZERO™	1 Recommendation Recommended By Hank Scorpio Respond to of 222437

That HS pattern breaking down lower seems less likely... We also have a clear upside breakout pattern in that chart which shows the price coming back to test that breakout level and may well be ready to resume higher... That upside breakout pattern includes that HS pattern and it also seems to be more dominant than the HS pattern alone by itself... Also, there are other charts which support the upside breakout scenario... We can see many outside key reversal days in so many of the other charts as of yesterday's close... Here in the second chart below we can see an outside key reversal which is so typically bullish... If you look at all the previous outside key reversal days in that same SOXX chart below you'll notice that each and every previous one has a follow through in that prescribed direction... We'll see, but I have to suspect we should rally on this current daily pattern and the rally could be sustained based on the weekly upside breakout pattern... But, we'll see what the market itself wants to do... The daily SOXX GZ

To: Hank Scorpio who wrote (208495)	3/8/2025 3:37:52 PM
From: GROUND ZERO™	1 Recommendation Recommended By John Carragher Read Replies (1) \| Respond to of 222437

Just a quick follow up on our earlier discussion about a possible market bottom... While it does look promising that we should see some kind of bounce, this may not automatically mean THE market bottom... We should bounce providing we can trust these near term chart patterns, but the nature of this coming rally will tell us whether it's just a bear bounce or the beginning of an actual new uptrend... If the markets move upward to sideways, then it could be just another bear flag and these market would again move lower after a few days... On the other hand, if this possible bounce is a more vertical move upward, then that would of course be more positive... So, it really remains to be seen what the near term bounce does, proving we actually do have any sort of near term bounce... GZ