Mr. Ross can you tell me exactly what is meant by "Bullish Divergence?"
It's really very simple. A Bullish Divergence occurs when prices fall to a new low while a technical indicator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often, but not always, a bullish divergence marks the end of a downtrend.
The technical indicator is usually a momentum indicator like Stochastics, RSI, %R, or MACD, all of which are based on detrending an EMA.
Joe's bio says he's been mentoring for 27 years. I think it's at least 28. There were seven of us in a three day educational session in January of 1992. I think it was only the second of Joe's training sessions.