It was a difficult week in the US equity markets with the SPX gaining ~1% in a volatile week of market action: We are at the bottom of a 2 SD  short-term uptrend channel and close to the top of a 2 SD longer term downtrend

The first Quater of 2023 ended with US equities putting in a strong performance closing up over 3.6% from last week’s close. Price is getting squeezed in that pendant zone between the 2 heavy yellow boundaries of the bearish and bullish trend channels. We can

In a holiday-shortened week US equities were relatively quiet but managed to close the week up ~1% from last week’s close: However price is still hanging around in that pendant pattern (defined by yellow boundary lines of the bearish and bullish 2 SD channels) and we