Update from last weeks chart.By my calculations the days are...

Update from last weeks chart.
By my calculations the days are numbered until we see a breakout on AR9 (I will go out on a limb and say within the next 5 trading days)

The wedge is tightening and volume has dropped right off.
The Stoch is moving into oversold territory again.
The limited trading range has flattened out the histogram but I believe that'll be shortlived.
It really is now set up for a powerful move north...

One thing for new traders to look out for is the 'Spring' pattern (more commonly known as a shakeout) as made famous by Richard Wycoff.
When a stock has been consolidating for a while and volume is minimal its quite common to see a short penetration BELOW support.
If this is done on a small amount of volume then its actually a bullish pattern as it indicates there are few traders willing to sell their shares below support.

Why does this happen?
When theres been a long consolidation it has given both buyers and sellers numerous chances to get in or out at their desired level.
This dries up volume and also takes traders out of the equation as theres no volatility left for flipping pips.
This means the MM is fully in control and will go fishing for stop-losses as theres more chance of grabbing shares there than in the real buy/sell queue.

If it plays out then as the name suggests will then act as a 'Spring' for a significant move north...
Some traders like to take advantage of this pattern and buy up as soon as support is broken. Others prefer for confirmation and wait after support is broken to the low side then for the sp to move back above that same level before going into buying mode.

With AR9's strong uptrend and the sp still making higher lows theres every chance that support will not be breached and the breakout will only go one way. There is also a chance that once support is broken a new trend will begin in the opposite direction. The good thing about the markets is you have the ability to back your opinion with your own money. My money is with the bulls...

Either way, I don't think we'll be waiting long to find out...

GLTAH