mlsoft: We'll the support line seems to me to be very much still in play. Only time will tell if Don's right about the resistance line.
However, before you dismiss the possibility outright as "dead on arrival, from a technical analysis standpoint" you might want to take a look at the Naz Comp 1974 Rising Megaphone (expanding triangle) which I first shared online in 1999. I can't remember anyone (other than myself) buying into the formation then either. The rising resistance line of the 1974 Expanding Triangle is represented by the upper green dotted line.
Of course, you might note were the Naz Comp topped out at, in 2000...
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