For the past 9 years the S&P 500 has not been able to live outside of this channel for long, eventually it's pulled back inside like a metal to a magnet.
Zooming out and viewing from a macro scale I would say we are going to revisit the channel soon possibly after the next leg up around the election or shortly after..
100% agree. Nice chart. I was just showing this exact same thing to someone last night. Every time the market gets outside this channel it corrects back in at some point. The more it gets above, the bigger the correction below the mean.
Gold_Rush
⋅
@Dr_Roboto, Hey, Thanks man get ready for a long position I have a feeling this could be a big correction. Good luck.