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The above chart is of the SPY, 30-minute timeframe stretched back to the beginning of 2012. While at various points along the way it is correct to back off or push on the accelerator, fighting the tape is a much more dangerous proposition.
Treat that trend-is-your-friend well until it bends in the end. Once it bends over, politely excuse yourself from the room 🙂
All I recall is a lot of people NOT excusing themselves around March of 2011 and it was a nice long painful summer with more pain till December.
This doesn’t look like a trend as much as it does a rocket ship up. Then it’s elevator down.