Stocks rallied hard yesterday, and ar vascillating between up and down today, but the reader who’s been banging the drum hard about the bugle formation lets us know that the pattern is still in place. It hasn’t been broken.

He also adds the following analysis:

This morning it looked as though it would get blown out of the water, but not so. Also we are getting the odd ‘distribution’ day. These are days of higher volume than the previous day but the price finishes  LOWER. Distibution days mean that those chasing the ‘bargains’ are met with more than enough  sellers to satisfy their needs without forcing the price up  

For more analysis of this pattern, see here.

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