The Dow remains inside of a fairly clean rising channel that has been in place for a few decades.  The rally of late now has it back to the top of this long-term rising channel.

At the same time the Dow is at the top of its channel, one can’t help but notice the potential that a rising wedge looks to be forming, that would suggest a two-thirds chances of lower prices on the Dow.

The Dow is in somewhat of a jam at (1) in the chart above, reflecting that something needs to give (breakout or breakdown) fairly soon!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past