To illustrate what the difference is between volatile market and trending up market, have a look at below monthly chart (each bar represents one month). As you can see from Apr 2000 to Mar 2003 (between point "A" and "B") XJO was moving in the range of approx. 877 points (between the two parallel yellow lines). In Mar 2003 XJO broke up and is trending up ever since (between resistance and support lines) gaining an amazing 2714 points. The S.N. system, set to trade volatile market, is the most efficient during such times (2000-2003). Even with trending up market in the last 3 years (S.N. system in not set to trade trending market) S.N. was still able to deliver a healthy 20% return per year. I agree that 20% is not an amazing figure (personally I do not have a problem with 20% at all) but if we get a volatile market then NI fund may/should deliver even better returns (IMHO). The second is a weekly graph (one candlestick = one week) which represents XJO trending up for the last few years. As you see the last resistance line was broken at point "A". Currently XJO is pulling back within the channel that was created in the last 3 + years. If bottom line of this channel (support line) is broken we may get correction in the market. But as long as XJO is having "fun" between those two lines the market is still in no danger of correction (IMHO).