As long as the lows hold, the bottoming thesis is in effect. I have focused on more short term 3-6 month charts lately, but here is a two year chart showing the power of the oversold Relative Strength Index, even in a longer term down trending "topping" market.
The Power of the RSI
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Paul Singh
Paul Singh writes the blog, The Market Speculator (http://www.themarketspeculator.blogspot.com/), a diary of a market speculator who trades stocks and commodities using technical analysis, chart patterns, and trend-following methods.
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