Over the past 3+ years, we have only travelled from the upper limit to the lower limit of the weekly trend channel and back again, at least in the ES/SPX. Whenever we roll over, the end-of-the-bull-market and correction threads begin, but then we turn at the lower limit and go right back up again. Eventually, this will end (this is the seventh year of this market), but I expect we'll at least have a lower high first.
I have noticed that as well, that anytime it touches the lower until it moves up again as if nothing can take it further down, it will end as it always does the question is how long before that happens, the longer the market floats higher and higher and higher the break of that lower limit when it does happen will be even more severe, over 1200 days without a 10% correction says something right there especially now that markets are up over 200% from their lows, if you think about it whats a 10% correction after a massive 200% super rally, I mean how can you possibly not think there is not going to be a sizable correction going forward....I think the markets revisit October lows along with a VIX that surges above 40 sometime in the first half of this year...
