It's a premature speculation on my part, but it 'could' be in the process of building a cup and handle. A very big cup and handle ==============================================================
SantaCruz, Cup and handle? In all due respect, that appears to be a stretch of olympic proportions. The formation, were it to happen should be resolved by 2005 and by that time I would think the PoG would be m u c h higher than the 420 area that would signal the completion of the cup. Fwiw,I can see what you are getting at, but I'm having trouble cosigning your vision.