Technically $8.50 is closer to the exact fib of the first sell off, but $8.67 at the end of today is well close enough.
Bullish momentum divergence is most clear on a weekly chart. Obviously you can't know the exact bottom until it turns and the trend lines suggest XJO could yet hit 7070 in this pump. Given the much higher volumes from July onwards though looks like more than a few peple have been taking out a hedge against this market (not a coincidence it started happening around the same time that the market had its first warning sell off). Compare the volume to the last September period where basically nobody was protected against a downturn...
Would look to close into $10.70 as I expect bulls will put up a lot of defence there with btfd etc.
