Techinally... this uptrend is looking much weaker

breakout through the top of a rising wedge is not as reliable as a breakout through the top of a falling wedge... for projecting higher prices...

whereas a breakout through the top of a rising wedge is more often a false breakout (especially when combined with lower volume)...

yes... on a daily close it looks to be a low volume downtrend line breach... but when you scale down to the 60 min you'll see:
1. the rising wedge
2. the fact that we're below the mid channel line of the uptrend beginning with the March 17 low...

the one clinch is ... we did test the topside of the wedge on equal vol to the breakout... so until this broken... a price target based on the breakout is conservatively 147ish...

IF... we break back down and take out the underside of the wedge... we should target slightly below 134...

...a few charts i'm watching...


http://stockcharts.c...5786&r=4127.png

http://stockcharts.c...5707&r=8347.png

http://stockcharts.c...9362&r=5077.png