Pokémon Tuesday, page-2

From the daily XJO chart the two breakdown days were the 5th. and 6th. of February. The 6th was a very large Red Marubozu which is indicative of extreme price weakness. Any rally that technically is to indicate the correction phase is over would have to clear this Red Marubozu which spans 5796 - 6026. Today's close at 6042 has done that. Confirmation in a technical sense needs a close above the midpoint of the large red body of the previous candle which was the first day of the price breakdown. That candle body has a range of 6026 - 6121, so the midpoint is around 6074.
So a close of the XJO above 6074, which is 32 points above the Monday close is still required to be more certain that we are once again on an upward trajectory.