On december 22 - 2010 I wrote, that a bottom could be very close at hand. I had the next support at 124.80, which was broken for for an overshoot to 124.00. With the rally we have seen today the odds do favor a bottom is in place for a rally towards the top of wave 4 at 137,75 - 138,35. (The chart below is a close-up of the above chart).The big question is if the test of 124.00 marked a major bottom or if it "just" marks a temporary bottom and further declinces will be seen later. The current price action will reveal that later.
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