Yes, that was a breakout.
By "real" breakout, I meant something big enough to move us out of the larger consolidation pattern.
By "real" breakout, I meant something big enough to move us out of the larger consolidation pattern.
That's a kind of mealy-mouthed response. Stay intelectually honest, or you're no better than rpietila when he's high on
Anyway.
The fact that we didn't break 125 yesterday shows that any hypothesized uptrend is far from certain. I admit that much.
But the fact that we're not even getting close to a new lower low, or even anywhere near 100, firmly puts the ball in the court of the "the bubble is not yet over" evangelists to explain how they believe the correction will play out from here.
tl;dr The original correction down trend is simply broken now. The original (mid january) growth trend is not confirmed, but still plausible.
very well said. This is exactly the situation. Old downtrend is off the table. New one is not in sight. New uptrend also not established, but seems a lot easier to achieve than a new downtrend. [/img]
$125 and $80 are the levels to watch. When one of these is broken, a new up-/downtrend is established
