It is possible. There is a bullish count and a bearish count as the market is in the "GoldenZone" the range betweent the .618 and .786 retrace that we have discussed in prior articles.
As we look at the quarterly chart, it is difficult to ignore the green candle which has a high over the last red down-candle, which historically has marked a confirmation of an uptrend.
The question remains... what news could trigger a drop out of the GoldenZone?
Time will tell, but in the meantime, the bulls are enjoying the rally!
See this video for more information:
Dr. John
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