“…the SPX has been moving higher in an orderly fashion, as depicted by a channel connecting higher lows since May 23 …and higher highs since early July defining the upper boundary of this channel. There have been hesitations within this channel at levels 10% above the 2024 close and 10% above the previous all-time high in February and only one major close below the 30-day moving average, which was quickly resolved to the upside, until there is a firm break below the lower boundary of the bull channel, which ...