It’s not entirely confirmed, but the early signs are very promising. We wrote yesterday that it did look very good, and our gut feeling doesn’t seem to have let us down. Here is the chart:
We are now well above 45. If you want to really make sure, wait how it closes today. If it stays above it’s 200 day moving average, this could very well be the start of a new leg up. Somewhere next week we have earnings, these will have quite a bit of say in the matter as well.