how can you say that line cross was a coincidence? what are the odds?
I don't think it was a coincidence. Bulls have reason to point out the break of the down trend line. But are we looking at a $50 move? Or a $500 move? Bigger? The breakout alone is not so comforting looking at indicators. RSI is riding very high 4H. Hard to see a strong up move from here.
Could you be more specific? You want a new ATH in a week so that you could say for sure it was a strong move?
Seeing reversals before others is how you trade, not the other way around!
Yes, so is it a reversal or a retracement? I am implying it is a retracement.
What do you want me to be more specific about? As I said in another thread, a break of $530 for me indicates that this rally has legs.