The ValueLine Arithmetic Index (VLE) has corrected the 2002-2007 to around the 7/8 price level. Price has moved back to the 1×1 descending angle which should provide resistance.
In the much longer term price has room to run back to the 1×1 descending angle.
The VLE has made a strong run off the March low, but now natural price and time level resistance is upon the charts. The weekly chart show price at a 50% retrace level of the 2007-2009 bear market. Price was moving up the 4×1 ascending angle and slowed down near the 50% price line. A pause, as opposed to a correction, would be very bullish.
And the daily chart of the March lows show price has been strong with higher highs and higher lows.
Charts courtesy of Stockcharts.com
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