Forecast for a big plunge in $Indu was wrong--only got 750 points down and then todays huge reversal

The low pole reversal is seen when a chart falls below a previous low by at least 3 boxes but then reverses to rise by at least 50 percent of the fall. The reversal implies that the supply that was making the prices fall has been absorbed and demand is taking over. The pattern is an alert that higher prices could be seen in the future. The ideal buy point would be on another reversal back down to be closer to the stop loss point. This would also set up a double top breakout if the prices reverse up and break over the current column's high.

Tim Knight has a very near term accurate record in calling this market---bullish, Palisades Research gives only 47% probability for rising S&P tomorrow.