This is the update to my blog post here of Feb. 8th, q.v.

As you can see in this chart, price has definitively broken out above R1.  The TopFinder curve that I called TF2 in the Feb. 8th post is now virtually complete, so I’ve shown it here as a dotted curve.  With the new breakout, it makes sense to fit a new TopFinder, called TF3, to the February low, and to launch S3 from there, the next curve in the hierarchy of support curves following this uptrend. TF3 is about 2/3rds complete at this point, with the projected horizontal location of its end at the dashed vertical line.

With this breakout and new TopFinder, it’s obvious that the uptrend that started in March of 2009 is still very much alive and well, with a lot further to go.

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