With markets going nowhere fast on this US Holiday: Presidents’ Day . Just a Short Technical Note – as per blog posted January 23, 2011 “We are now at the crossroad and this weeks price action should be a key Driver to the next potential push in direction over the longer term ( 3 / 6 month )”
I posted Two Different Scenarios,
1 )We had A Potential Head and shoulder Formation . ( Bearish Scenario )
This has now been firmly rejected by the bulls .
2) The chart below ( Bullish Scenario )
Just one additional New Chart to add below as of the Latest Price Development on the weekly chart – included a upper Trend line which represent yet more evidence to this above scenario playing out .