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- The long term up trend is still intact and strong. No long term damage in this chart action.
- The short term up trend has shifted into a price range of $167-$170. The most recent gap up acting as support in this newest leg up.
- There was profit taking five days in a row as we approached the crucial round number of $170.
- A close above the $170 level would be a new break out and buy signal for me.
- Many leaders holding up great and near all time highs, $TSLA $LNKD $AMZN, regardless of real earnings, valuations, or earnings misses.
- $SPY is back to being bought on weakness the last two days of the week.
- I am looking to get back aggressively long next week buying the break out above $170 if that happens.
Two other of my real life real trend trading examples from 2013.