month end

I posted this monthly chart a while ago highlighting the fact that the 3/10macd had triggered a 2c short bias, which often preceded the beginning of a bearish cycle:

The looks to be potential at this point for a bullish momentum divergence which could cause a rally and quite possibly creating a Head & Shoulders pattern on this monthly chart (next summer?).  Purely speculating of course.  The downside support (should we trade under current lows) should be quite solid though and a rally off of that area wouldn't come as a surprise.