Yes, exactly–you’re reading it properly. The upward pulses are detected bullish anomalies. This means it is expecting price to go up further.
In terms of semantics, that’s a little tougher.
It definitely is suggesting continuation of the trend.
If you missed the first entry, you could consider hopping in at the second spike. However, it’s going to be riskier than getting in on the first. There’s, of course, risk with sitting out too.
But this is exactly the point of this graph…it’s giving you the opportunity to weigh the risk of getting in even if you missed the initial call.
Here’s how I would personally look at…
The Market Index is positive.
We’ve had a batch of bullish anomalies.
The 9K level is imminent. I think if it pierces 9K, we could see a large leap up.
I would personally hop in if I wasn’t already.
But I’d also set my stop loss so that if we get a hard bounce off of 9K, I don’t feel too much pain.
I’m curious what others think about this level too.