A few days ago we called a double bottom in the charts.  Every day that the markets rise confirms this bottom.  With oil and gold declining, it confirms it even more. 

What is a double bottom?  Simply Put: 

"A charting pattern used in technical analysis. It describes the downward movement of a stock, a bounce back up, another downward movement to the same (or close) level as the original drop, and finally another bounce back up."  This is a really good short term sign and will allow us to go in and out of some positions to lock in some gains.

The downside?  The huge rally today is too fast.  Way to fast.  If we continue that trend, we will certainly have some big falls.  For now, enjoy it.

In a lot of cases, this last rebound back up holds solidly.  Look at the S&P chart below for the Double bottom that happened a few days ago:

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