Discovery broke a multi month channel and recently tested the breakout level and held. This one could potentially go down to test the recent lows again - 5400. A break back into the channel will trigger a stop loss.
We rally even in bear markets. Maybe time for a cautious long position. Not calling a bottom here, just a rally. Stick to stop losses. Target 6% away from current levels. Stay safe in markets and out there.
This needs to drop another 3.5% before the long term bullish trend line is reached. A lot of hot air being let out very quickly in US markets at the moment. Tax cuts, QE, rate cuts. At some point in time the chickens need to come home to roost. US markets can only function in isolation for so long.