American Buying Binge From China

Please click here for a chart of  S&P 500 ETF () which represents the benchmark stock market index S&P 500 ().

Note the following:

  • The chart shows that the stock market has been moving up in a well-defined channel.
  • The chart shows the stock market is at the top of the channel.
  • Stock market bulls need ammunition to break above the channel.
  • The ammunition has come in the form of an American buying binge from China.