Sure, everyone reads charts differently and derives different...

Sure, everyone reads charts differently and derives different outcomes, a lot of times to validate what outcomes they want. My issue with the chart from my own perspective is that prior to the last week, we were in a downtrend. The behavior I look for in the SP is that it has acted well previously, ie held its moving averages, sets higher lows after big rises, supported by good volume. This chart didn't do that to my eye. The fact also that there were a lot of buyers 10cents up (all the way to 32cents) previously indicates a lot of "trapped investors". that will look at some stage to potentially get out if they can get close to breakeven especially if the SP has a mini pullback. This in turn suppresses the SP via selling pressure until those sellers are shaken out. Anyways, that's how I saw it. Just MO and part of the post discussion on TA.