Hitsoft,
I looked at your trendlines and then tried to draw my own. I lengthened the chart to 3 years and here's what I got:
stockcharts.com[h,a]waclyyay[df][pb50!b200!b20!b10!i!f][vc60][iut!lb14!la12,26,9!lc20,3!lk14!lf!lh14,3!ld20][j4989444,y]&listNum=1
The first trendline was clearly broken before 9/11. The second trendline (moving down) tries to portray what would have/might have been the trendline without 9/11. As you can see, it aims directly at 37.50 as the next support. This is the most likely trendline, imho.
The third trendline assumes the 9/11 disruption was a valid trend point. I don't think I trust this trendline for July action, but it aims, again, pretty nicely toward that 28-29 level. Maybe after a rally, this will be support in September/October.
Kb |
