WOW - Talk about follow through after Key Reversal

[UrmaBlume]

The market made a key reversal on Thursday. The Fed cut early Friday.

Pre-session at record volume with Dow Futures up 185 an hour before the open.

The chart below reflects the confirmation of the key reversal and foretells a rally.

Of note is that traditional technical analysis tells us that the first rally in a bear market is traditionally very, very robust and yet still fails to make new highs.

I think that this is the case here and that we will not take out the mid July highs on this run.

First rally in Bear market? Resumption of Bull Market?