Even though this is a Wednesday and the tradition is for, Just Charts (no words), I wanted to comment on this bigger picture chart.
The rally anticipated late yesterday is unfolding Wednesday morning. Rally or not, the entire move from early March has still not retraced 50% of the entire decline from 2007. Nor has the False Bar Stochastic triggered an "Trending Up" black horizontal line. I can't remember when the FBS has ever stayed so long in an Overbought or Oversold area---7 months---without recognizing a Trend.
My forecast remains, "Watch out below." My trading remains in the direction of the trend as defined by BWT and ATR.
When these two opinions copulate, the fireworks will begin.