A nice day to watch don't we all think? We may actually have some traction, with good volume.
For us bulls, the charts as previously mentioned are hinting that we are heading in the right direction. The bears must be a bit nervous with at least 4 million+ shorts that have yet to close. (who's going to be left holding the baby I wonder??)
I really like the segment from Investopedia for the IH&S pattern definition;
"However, once price rises a second time and reaches a point above the initial peak, it is clear that bulls are gaining ground. Bears try one more time to push price downward but succeed only in hitting the lesser lower reached in the initial trough. This failure to surpass the lowest low signals the bears' defeat and bulls take over, driving the price upward and completing the reversal. "
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