Now we're here:
Are you a buyer or seller? It depends what kind of trader you are. Many do very well buying momentum and break outs. I buy low and sell high.
I'm not a buyer here. I will either need to enter a shallow retracement if the upper trend line becomes support. Or I will wait for a failure and for the upper trend line to become resistance.
Possible upside targets are 1255-1260. The 200 day moving average is at 1274.56 today.
The downside is considerable. 1195 would be the first target. There could be lower ones too.
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