Stock Market Technical Analysis Blog
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In the market today we saw another day of modest gains from the continued melt up of the market as they continue to force a few more shorts to cover their positions each day. Looking at the upper cluster, the S&P is at its upper line of its 4 year mother channel but looking closely there is a steeper inner blue channel for the past 18 months that if they use it, it could take the S&P up to its all time highs that are shown in the middle chart, the 35 year chart. In the bottom chart AAPL is about to enter its next lower channel.
Alan
