Yeah this seemed ready to break out, but don't imagine it will happen today with the fear in the market. A pull back to 3.1-3.2 would be healthy, bouncing off the bottom trend line and setting up for a ascending triangle. Although a breakout to the bottom of that could be possible if the market eats it....
Either way, if there's positive news coming, which I think there is, this will just be short term pain. Down markets can't beat positive game changing news.
SP Movement & General IAM Chatter, page-416
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