Not!
See charts below...
(Click on charts to enlarge)
Oh sure, the stock in the chart above got slammed by the bear market's ferocious end (September/October 2008), but it has since risen back to its prices prior to the decline, and then some. Wow!
I identify many items in the chart above, up-to-date through today's close of business. Yes, it is a
symmetrical triangle; better (more bullish) than that, though, is the internal
ascending triangle now building. Note trend line
1, and especially points
a and
b, which show the breakout and successful test of that breakout. And today, the stock breaks above trend line 3, at point
c -- with 180% of average daily volume.
Look at the chart below, which is the same stock and carries over the trend lines from the chart above, but is basis weekly rather than daily: the set up and pattern look bullish to
my eyes...
So where is the bear market...? The charts above -- and many, many more -- betray an increasingly
bullish picture.
