The index charts almost all say the same thing: (1) prices are in an ascending channel; (2) there hasn’t been a single violation of the channel since it began about half a year ago; (3) the government isn’t going to allow any kind of dip in equities until the election is over.
There are just two notable exceptions, shown below: the Russell 2000, which has fractured its uptrend, and the Dow 15 Utilities, whose diamond pattern has been gloriously in place since completing last summer.
