Yep. However, don't make the mistake of thinking that the trendline provides support in July. Note that price tries to make a higher high the first of June but pulls back to the midpoint of the bar. It then futzes around for five days before continuing the advance on the 8th. It is this little consolidation that provides -- or at least helps to provide -- the support for the pullback that bottoms in early July.
Yep. I was fortunate to have worked for him for 2 years back in 1984-1985. Vic was an incredibly generous person and teacher of classic Dow Theory and technical analysis. He had an incredible library of books on technical analysis that went back 80 years or so at his home in Short Hills, NJ.
if ur looking for a trendlinesystem u should visit http://www.nebadawn.com/stock-market-technical-analysis/training-home.htm the rampprogram finds definable trendlines and looks pretty well.
Edwards and Magee, in their book Technical Analysis of Stock Trends, go into this topic in great detail. They also provide rulles for trading using trendlines. Granted the book was written with the intent of using daily and weekly charts, but I have found that the confirmation process and the rules in general work very well for intraday charts as well. You can get their book from Amazon or their website. www.edwards-magee.com