As we go through the charts of the daily indexes and individual names we see a lot of Pullback Off Lows (POL) patterns.
Much like in uptrending markets Pullback Off Highs (POH) patterns are the only pattern you need to know, in downtrending markets the opposite applies. In downtrending markets POL's are the only pattern you need to know for shorting. Those POL's are also the what to watch out for if you are long. That all said below are the daily charts of the indexes. Continue reading "Pullback off lows – The only pattern you need to know in downtrending markets"