All of the major indices have been in a major downtrend since last November. All of them are also near resistance of the long term price channel they have been traveling down within. Many people are waiting for the market to pick a direction here. Will the major indices break out to the upside? Or will there be a major rejection to the downside which would basically keep us within this long-term downward price channel?
In the first three charts below you can see futu...