Rip,
My observations on the trendline you have drawn. How would someone draw a perfect trendline - other than in hindsight? In live and real-time, there would be many instances when the trendline would have been breached. I have drawn three breaks of the trendline on the same chart...
there are more... As in perfect charts drawn post facto, these kind of interpretations mislead traders and take them on a rosy path oblivious to reality. Similar case with most indicators, RSI, MACD, Moving Averages etc. etc... Just my view.