Each candle represents 3 days on all of the charts below of the Major Indices...the current candle will close tomorrow.
You can see they're in a tight upward trending channel (which is intact for the moment), with price action swirling around the 50 sma (red) since mid-May. Resistance remains overhead from April/May. The exception to this is the Utilities Index, which is well above its 50 sma, with near-term resistance from mid-June...and one to watch for evidence of any damaging weakness entering that may spill over into the other Major Indices...otherwise, I'd expect this channel to hold.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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