In 2008 we had very similar case. S&P500 tagged twice (double bottom) at the weekly 200MA. That lead to a furious rally towards the weekly 50MA. What happened after that... Well you all know.
Repeat after me :"This is not 2008, This is not 2008, This is not 2008, This is not 2008, ...."
I recommend looking the related idea also.
Repeat after me :"This is not 2008, This is not 2008, This is not 2008, This is not 2008, ...."
I recommend looking the related idea also.
