Notice the following on the daily chart:
-- Prices have moved through the downward sloping trend line that started in early February
-- Prices have moved through the 10 and 20 week SMA
-- The 10 week SMA is turning more positive
-- The MACD has given a buy signal
-- The RSI is rising
-- The Money Flow index rising
However
-- The shorter SMAs are below the longer SMAs
-- The 20 and 50 day SMA are still moving lower
Notice the following on the weekly chart
-- The MACD is moving higher
-- The RSI is rising on a longer scale.
HOWEVER
-- Prices are still below all the SMAs
-- All the SMAs are moving lower
-- The shorter SMAs are below the longer SMAs
Bottom line: we have a long way to go -- especially on the long term chart -- before we're out of the woods.
