The NASDAQ has been progressing through an increasingly steeper series of channels over the past several years and is now trying to claim the topside of its 5-year green channel (shown in the weekly bars chart below.)
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The NASDAQ was stalled by the upper line of its blue channel three weeks ago causing it to drop back into the green channel but was quickly pushed topside of the upper green channel line trying to claim a tiny expanding wedge as its playing area into year end. The NASDAQ may have constrained trading the rest of the year as the wedge pattern of the intersecting channels is minuscule.
Trade well my friends
Alan
Trade well my friends
Alan
