Breakout or Just a Long Uptrend?

The Trump rally continues to power into new high ground for the averages. We see on the first chart, below, that the last three trading days appear to be a continuation of the uptrend rather than a power breakout, in that they come after an already stretched advance and are on only moderate volume and with normal trading ranges. 

Because we are in new high ground there is no way of ascertaining levels of resistance. One thing that does stand out is the level of the RSI, the trace across the top of the chart. It has now crossed back into the overbought territory last seen at the end of last year. However, we could, as then, stay in that region for some time. ...224 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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