He crossed the finish line 1.239 seconds - about 10 car-lengths - ahead of Tracy.
The pattern is also visible on the weekly chart, as indicated by line 1.
The weekly OBV violated support in August, line 1, and barely rallied during October.
The MACD-His turned up in September, forming a secondary high and a negative divergence, line 1.
At the end of January 2007 (line 1), the momentum had been rising for several months.
The OBV was already back above its WMA as the overall market was bottoming (line 1).
Two weeks after the highs (line 1), the RSI dropped below key support at line C.
From the July 2009 low to the May 2010 high, IWM was up 57.4% (line 1).
The daily OBV gave a buy signal on August 20 (line 1) when it overcame resistance (line b).
The chart of the seasonal trend shows that crude oil typically bottoms in February, as indicated by line 1.
The MACD declined into April, making a series of lower lows, line 1.
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As the Dow Industrials were making their weekly closing high in early October (line 1) the Transports were much lower.
At the end of January 2012 (line 1) RYL closed above the 20-month EMA and the monthly studies had turned positive.
At the end of October (line 1), it closed at a new three-month high, suggesting that a new uptrend had begun.
The RS dropped back below its weighted moving average in March (line 1) and then dropped below support at line c.
The RS tested its declining weighted moving average (WMA) last March and then broke support (line b) in early April, line 1.
At the end of May 2009, the monthly OBV (line 1) had moved back above its WMA, which was the start of an 11-month rally.
The support on the % change chart, line a, was broken a week earlier (line 1) as the gain for the year fell below 9%.
The euro continued to make new highs, but by the first week in November, the MACD-His had dropped below the September low, confirming the negative divergence, line 1.
For more than a year, the OBV had been locked in a trading range that was resolved in May 1935 (line 1) when resistance at line b was overcome.
Long-term readers will know that I follow the Transports closely and they have been leading the overall market higher from the March 2009 lows until the July 2011 highs (line 1).
The following month, it pulled back to its WMA before it again turned higher (see circle a) and by the start of 2002, it was in a clear uptrend, line 1.
By December 12, the SPY had surpassed the early November highs and on December 18, (line 1) the OBV moved above the October highs, line b, as it was acting stronger than prices.
To determine the price target from this formation, measure the height of the flagpole, which is defined as the distance from the breakout above resistance to the first high, which is labeled line 1.
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