breakout, page-15

Good charts erichmj,

Bit of volume analysis here:

Note the v.high vol day July 5th.

If it was a blowoff (as is often the case with smallcaps on high vol days) you'd expect a close well below the day high. We didn't get that. Positive.

You would have expected a subsequent fall the next day and possibly a close below the low of the high vol day. Either that or a weak attempt to rally again with selling into the rally. Didn't get that either. Positive.

If anything, y/day's low volume consolidation day confirms a lack of supply.

I'd be looking for a break of 5.5c to confirm a new uptrend.