weekend charting 29-01-10, page-56

Pretty much as the same as the other guys.... with a footnote, another Weinstein teaching is that support and resistance are "zones" rather than hard and fast numbers (obviously the pennies are more rigid because of the % profit/loss involved in the ticks) so you'll see the lines drawn might have a couple of bars outside them. I find quite often these occur when a market is very bullish or bearish - think about a hot air balloon rising or falling, then it gets an upthrust or downthrust of wind and can slow or accelerate depending on the combinations, thus running past, or never quite reaching the supp/res lines.

Now that I've charted it, I'm actually thinking it might break the wedge formation up, but that would largely depend on two things. Overall market and price of U. If it breaks down I'd be out of there like a shot as the momentum is accelerating.