I think xjo is in a nontrending congestion zone and only a...

I think xjo is in a nontrending congestion zone and only a breakout above or below is really significant.

Trend - there could be a strengthening of uptrend happening, but its pretty weak and accompanied by some relatively minor bearish divergence in momentum oscillators.

Cycles, on occasions within the congestion zone there are indications of a pending move and cycles. Todays rally failed to establish a new upcycle - a new high would have been required for that - which may or may not be significant.

Lines - the uptrend line remains intact. The flat topped upward sloping triangle established from the middle of this congestion timeframe remains in place, suggesting a bullish breakout, and the failure today to make a new high yet not breakdown doesn't change the pattern.

Volume - todays spi volume peak during the upswing was the highest volume of the whole congestion period so far.

The overall picture is mostly bullish, with only the minor divergence on momentum and the failure to breakout today being nagging bearish signals. Both these naggimg aspects could be fixed by a good rally.

As for trading: buy signals include bouncing off the bottom of the range or the trend line, or a breakout above the top of the range on volume and momentum. Sell signals include rejection of the upper resistance level of the range, break of trend line, and break down from support.

Frankly, I WISH the blasted thing would breakdown but THINK we're in for some more rallying short term.