The Big Boys, page-374

Thanks for the detailed reply Captain. I get value from that when I do a detailed analysis and someone gives their perspective. There's certainly enough evidence for a long trade for a month or two. If you just look at my monthly chart and my comment on cycles a bounce here would make sense and trend is clearly up so your going with momentum.

However those pink channel lines give some guidance on the trend direction but channel lines are not strong. They're a weak form of support resistance so don't bet the bank on those holding.

I also restate that I think the bigger picture will eventually breakdown further even with a shorter term bounce. Reading your market arguments you're really looking for the major multi-year turning point. The first interest rate rise could do it but not a lot of logic to that and it doesn't seem like the chart is at an extreme.

Compare to the STO chart I sense that both oil and the stock are at an extreme point and its just timing and whether any final dip. NCM can still break either way and is much less certain.