Why not?
The US stocks are trading at record levels with the S&P up about 15 points to 2825, the Nasdaq up 54.5 points at 7392 and the Dow at 26140 up 92 points.
Looking at the SPX daily chart below, the price moved above a topside channel trend line last week and is moving away from that trend line today. The line comes in at 2800. The low today reached 2808. That line is a close risk level for buyers. Stay above and the bulls remain fully in control. Move below and perhaps there is more of a correction.
