A trend is when new highs occur every 5-days:
If above the "most frequent price" of a trend, then once above the mode the market can rally by the number of bars as are at the mode.
So, the "17" shows 17-days at one price and the projection is based on the price range from the first to the last bar that are touching those 17-days.
Another "16" day mode sets up and that time has expired after an initial overshoot of the target.
Now there is no new high for 5-days and a downtrend in place, but with only 8 days at a mode. If at the end of today, the price is below the red line, this becomes a sell signal with the targets labeled.
This is a great UPTREND that worked out very nicely with Soros buying a big position just ahead of the rally, but now that are coming out in a few days, there is a chance that prices could soften ahead of the news. I'd suggest exiting prior to the .
Tim 12:00PM EST 4/24/2014