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Each index remains inside of channels that have been in place ranging from 9-years for the Nasdaq (NYSEARCA:QQQ) to 30-years for the Dow (NYSEARCA:DIA) and S&P 500(NYSEARCA:SPY).
Each hit the underside of these long-term rising channels back in January and since then have been very choppy with little net progress, just under the top of the rising channels.
What could put an end to the choppy action? Breakouts of long-term rising channels!
What do bulls not want to see? Selling pressure starting at the top of rising channels.