Thanks H1. I do believe we will climb into the lower half of that primary channel,
barring any sudden shocks (wake up and de-leverage, etc) . The middle, dotted line should be a target.
The slow, laboured move, hugging the channel boundary on that chart seems to have one explanation. The buggers controlling this show are waiting for something (what?) and thriving off the up-and-downs-to-nowhere as time passes.
Here is an update on my inverted triangle and short-term channel. This is not acting like a breakout. That can only mean the real breakout area is ahead. I would estimate this resistance to be around 1293 (prior high) to 1300 (round number pysch).
1. The next short-term target, I think, is about 1317 (see top, sloping red line).
2. I don't know whether a 1257-gap-fill-correction will come before or after 1300. I think it should come after, given the recent pain, but the Universe listens to nobody (literally and metaphorically, as strange as that may seem). :)
Edit: you may recall that I was looking for a move above the sloping (upwards) black line starting at the August 2011 low. We now have it. If all goes well, we should get another 20+ point push up from here, before anything else. Fingers crossed.
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