An FTD is certainly no guarantee and they do fail. IBD likes to point out that every major bull market has started with one.
You can never tell, have a great watch list and then have a consistent method of investing. This FTD is a sign to really start watching. See if the up volume increases, showing real commitment by the institutional investors, they are the elephants doing cannonballs into the pool that create the waves up. The more elephants doing cannonballs, but bigger the waves for you to ride. Then one day the pool runs out of water and we have to wait for it to fill up again 