XING: Breakout Rally To Resistance

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From April 2 Entry:

(It's poised to go higher, but obviously is only bullish if it can break out to the upside, preferably on some volume. The target IN PLAY would be 6.66)

No problem for XING getting to 6.66. In fact, it stampeded on Friday to the "bottom rung" of first Major Resistance, beginning at 7.15. That's the solid black horizontal line, where XING failed to put in a Bullish Inverse H&S bottom, as well as failed to put in a "Double Bottom" with the Autumn, 2007 lows of 7.65-7.87. That area of 7.15-roughly 12.00 now constitutes six months' worth of resistance. XING rallied to 7.19 on Friday on its first bid to regain that area, then pulled back into the close of 6.74.