What a week for the markets!
Posted by MC on Apr 18, 2008
With premarket we are a hair over the rangebound resistance.
Not going to be easy to hold that, not to mention we have that 2nd area of structure resistance with the 50ma backing it so if we break it shouldn’t go far at right away.
Given this weekly chart, barring a disaster we will close above the downtrend. A pullback test of that new support and/or consolidation under the 50ma will probably be needed if this is the real deal. Disregard the volume, it’s not accurate since this is a TOS continuous chart and they have bugs to work out.
That’s my take anyhow 
