Technical Summary: We argued in our last technical update on WTC that the stock was overextended and that it could do with a consolidation. The market obliged with the stock forming what looked to be a top. The sideways action only lasted for about 10 days however before the stock broke to new highs. There are two ways that this can be viewed. The first being that the stock remains overextended and that the base it formed was not constructive enough. The second being that the stock has now broken to new highs and is primed for further upside. If you were in the latter camp we would recommend a tight stop at least initially to protect the position if you are wrong.