Any serious correction off 1955-60 ?

Always think first about pushing just over the obvious backtest of that broken TL (look at the area between that TL and your ML). See how it handles that. Then look at the first key area via the usual work, as shown on your chart.

Lotsa lines in here...

Okay, there's the burst up deep into the huge cluster of lines. That means, in my experience, either they are making it look like it's exploding up and the area will knock it down, or they area is about to give way and it will really move. Let's see. Of course, given the way the character has changes recently, maybe it will just chop here until close...

Give it to me, baby. All lines now just exceeded except the obvious downtrending TL, which is hit dead on. Now we see.

Woo-hoo, through the obvious TL. Be careful now, that may have been the game.

Thanks for this comment, Jim. Very useful from management standpoint.

Originally posted by jimkane

Always think first about pushing just over the obvious backtest of that broken TL (look at the area between that TL and your ML). See how it handles that. Then look at the first key area via the usual work, as shown on your chart.

A backtest back to say 42.50-.75 sure would be sweet here, but will it? And if it did, will it continue the rise? I'd more expect the programs to blast it straight up from here.

Now, in theory, nothing should stop this before Marcin's area if they are running this now. 47.00-.25 is the heart of it.

Watch the nearly flat overhead TL just above. I don't like the blastoff nature and long stall here. It needs to get back moving quickly.

Almost flat TL hit...

Everyone (you know, all two or three of you) should really read this. I know this is a trading forum, not a political discussion group, but the biggest problem of all is how people just stand by as all this unfolds, just like the examples in the article. Now I'm probably on another list for posting this link. I read recently where they said that the way you can tell that a society is no longer free is when people fear using their free speech. Well, I can say one thing for 100% sure, I fear my government tremendously, and I fear using my 'right' to free speech. I totally believe the government is or soon will be taking people away, never to be heard from again, who simply believe they are not doing the right thing for the people, that they no longer represent the people. I think that meets the criteria that we are no longer free. Anyway, this is a good read:

http://www.paulcraigroberts.org/2014/06/10/john-whitehead-guest-column-washington-arming-public/