If you draw a horizontal resistance line at 21.5 Disco that...

If you draw a horizontal resistance line at 21.5 Disco that clips the top of the recent highs.

It also forms the top of an 'ascending triangle' formation.

This formation is usually seen during an extended uptrend which why it is called a 'continuation' pattern HOWEVER it can also form as part of a reversal pattern at the end of a steep decline (like the one we had around beginning of Aug).

Here is a more complete explanation of the pattern for those interested:

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_c

An ascending triangle usually indicates a breakout above the resistance line (21.5c in this case) is looking likely. We had a nice rise but we are butting up against that resistance still. If we do break it I think 24.5c would be my target (as I've mentioned before).

Yesterday the S&P 500 in the US hit a resistance line around 1208 and stuck. DOW futures are in RED right now but that can and does change. Crazy times these.

Anybody else here also hold SSN? PRR and SSN bolted to all-time highs earlier in the year and have both been range trading for weeks now and today they both surged together. I'm probably seeing bunny rabbits in the clouds but when little happens for both stocks for weeks and then they sync up again on the same day.....where is Agent Mulder when you need him?! :)