Swenlin, who is known for careful and detailed analysis, sees a significant positive divergence on his momentum indicator between this recent July low and the June low.
Of course, in very strong bull or bear markets, we must rely on technical indicators that can stay with strongly trending markets, as momentum indicators like the Moving Average Convergence Divergence (MACD) indicator or Relative Strength Index (RSI) will top or bottom out well ahead of prices.