Looking at the chart I posted: The yellow line being the old trend. The blue line being the current trend. I would look for a bounce at the blue line followed by a higher high than $45.40. Without the higher high I would expect the red line to become the new trend. Of course, if the price just trades through the blue line without a bounce, and it could judging by Friday's volume bar, the red line would probably take over as the new trend, a down trend. This is only my opinion. Any opinions otherwise?
==================== Ess; 1] Figure fridays trend is down like todays open pcice=short term down 2] 50dma ,medium term trend =down, clearly down 3]200day moving average =up ;also unusually strong 4th quarter uptrend,probably retest highs, same with SPY, DIA