Let's talk about bottoms

Here are a few sayings about bottoms

"Only monkeys pick bottoms"

" picking bottoms will give you smelly fingers"

Why ?  The usual CNBC talking heads are still spouting the bullish side...

 

" In the case of the Double Bottom Reversal, a significant downtrend of several months should be in place."

"Prior Trend: With any reversal pattern, there should be an existing trend to reverse. In the case of the Triple Bottom Reversal, a clear downtrend should precede the formation." 

Stockcharts school

DOW daily

Watch out below if that support breaks 

Triangle measured target is around 22100

Which sort of ties with the first target

DOW WEEKLY

Could be short term support around this "triple bottom" - just because everyone is looking at it - the buyers will not be strong hands

Next support is probably around 23050 (look left) 

Then 22000/21300