charts

I note a staircase formation since the start of 08, with higher highs punctuated by consolidations, and the recent couple of days have confirmed this pattern once again.

My own feeling about it has been that yesterday morning it felt like the sellers had mostly finished. A very tight narrowing of trade volume set the stage for the rally - evidence that buyers were waiting for an opportunity.

Anyway -
What do people think of how effective pitchfork analysis done in recent weeks has been? How good has it been at predicting?
And what do the various models look like now?

I am treating it very simply - another pennant which will in time consolidate.