Trading Channel, Trend Line

Two weeks ago, was this update:
“Price action’s been hitting and bouncing off support for nearly two months; finally, penetrating and closing below that line, last Thursday.”
With that said, we had the definition of a Wyckoff ‘spring’ set-up.
So, what’s happened since then?
AutoZone AZO, Daily

At this point, the rally’s in-progress (not advice, not a recommendation).
If AZO continues higher from here and maintains the right side trendline, we get to ‘gap closure’ somewhere around August 25th.
For the histrions amongst us, August 25th, was the market high in 1987.
Stay Tuned
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279











