into week 7 of the 'correction' from its post sell off peak.... volume on 'up' days is still lighter than on the 'down' days... and the trend was 'down' as of the close on Thursday. So Friday was a good bounce back off what was looking like something about to get uglier if the trend wasn't reversed.
And yet, on Friday, the first of two buy gates I monitor closed. Despite the downtrend, this indicator was 'slowly' meandering its way towards closing. And Fridays bounce was enough to close the gap.
Now will it 'hold' as a buy, will see, for during a correction, the first gate can close and open a few times before they finally 'hold', but its a 'start', especially 7 weeks into a correction, and for one that's approx. 32% 'deep'...
Note, the 2nd buy signal is not even close to closing.... could take a while to see this close unless something occurs to spark buying interest...