Stocks In Uptrends, page-43

Prices at then 8.9c high of 10/01 were very quickly and soundly rejected, but the good volume build up to that level over the past week or so looks promising. The 8.9c level is also the 26 week high. A break of this level would be significant. My momentum and cycle indicators suggest the SP is extended but it also has been in what my system defines as a strong trend from 26/02. If I was a short term trade holder I'd wait for the trend to falter and then immediately place a stop below the last Low. I use a Williams%R indicator to define strong trends, i.e. those trends that just keep on going even though the oscillators (stochastic etc) are indicating overbought.