Short term charts look great, for now, I hear a lot of people claiming pump & dump is going on, but I see the Ebb & Flow of a normal down trend, this looks very much like normal trading activity with a healthy pull back. I see this same style in every market, Oil , Gold , Bonds, Etc. Too Many traders make the mistake of buying those tops right on the upper of the long term chart which they never look at to get an Idea of the "Big Picture".
is trending upward as the market has moved down for months. this could be A very strong signal for being an "Over Sold" market. To see divergence like this on a are far and few between and it says a lot when is going up in the face of a falling market. A lot of people will mention that a lot of the bars are "RED" meaning selling pressure, but you must remember that there is a buyer for every seller, dont let that get into your psychology too much.
Definitly not out of the woods yet though. We are still in a daily down trend, and we need more buyers, or we need to run out of sellers, I would love to see a short squeeze here, that would give us the boost needed to break support and change trend direction.