a.) On Monday, prices advanced to their highest level by 10 AM. This level provided upside resistance for the remainder of the session.
b.) Prices were in a rally all day and closed above Monday's resistance level.
c.) Prices opened lower, dropped then rallied, but dropped hard (d) in the afternoon.
e.) Prices opened lower on Thursday, but then spent the rest of the day rallying.
f.) Prices spiked at the end of trading on Friday on high volume (g).
However, consider these daily charts.
The SPYs have broken their uptrend but have also rebounded and appear to be moving back through the uptrend. In addition, prices have broken through important areas of resistance.
The QQQQs never broke their upward trend line.
The mid-caps broke their upward sloping trendline but have also started moving higher.
Both the IWMs and the IWCs have broken their trend lines but are also resuming their upward trajectory.
And finally, the transports are moving higher. They broke their trend line, consolidated and are moving higher.
Simply put, the averages are all saying a higher move is the most likely probability.
It's important to remember that a trend will most likely move a lot farther than you think it will.
