The real low of the day came early, but too late to be recognized in the 1st Hour Transition time as a valid signal. But not to worry, traders missed little as the muddy signal around the low would have produced little if any real profit in all but the NQ. But when the narrow range-bound trade continued on into and throughout the entire MidDay Time Period, and succeeded in wearing out most of the traders who frequent the FinancialChat and Othernet channels, it was--by its own delay--a sign that a breakout was soon to arrive. The hard evidence that a real breakout was finally at hand was visible in an Event Concept by the NQ. A MidDay Channel, complete with its customary false breakouts in both directions, met fruition with an abc trigger at the Last Hour Transition Time. The trade was worth 10 pts in the ES, 15 in the NQ or 90 in the mini-Dow. Other pertinent observations: Both the XBD.X and the Dow Jones Transport had indicated earlier in the day that the breakout would likely be to the upside. (click image to enlarge)