
However, the double bottom has not been invalidated and with the index wedged between its 200-day and 50-day MAs it effectively operates in a no-mans land. Until one or the other breaks it will keep the market in a sideways consolidation with a slight (current) bullish bias.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website