Another Wynn Update Into the Bell

They are not just lines of charts, since the market is telling us they are important (provided that we stay objective when we draw them). 

In the case of WYNN, the stock is getting its first real bounce today since the Steve Wynn news hit last week, and it is bouncing at a major, not minor, level. We looked at the $160-$162 area previously as prior 2007, then 2011 highs. 

The monthly chart, below, does not quite show today's 5% bounce. But, now comes the real test to see if bulls can build on it and keep holding major newfound support below. 

Either way, we know we have our line in the sand here for a suddenly-controversial stock and firm.