Another troubling sign was the breakdown of the Russell 2000 index ETF (IWM) from its upper channel late last week.
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Five weeks ago, DVA broke out above its upper trading channel.
Stocks that fit that description for potential follow-on trades include Netflix (NFLX), which has formed a tight upper level channel and still has a high short float, Google (GOOG), which is hanging out near all-time highs, Quallcomm (QCOM), and eBay (EBAY).
The 127.2% Fibonacci retracement target is at 8, 631, which also coincides nicely with the upper parallel trading channel.
This also corresponds to the upper boundary of the trading channel (line a).
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The parallel trend channel has its upper boundaries now in the 320 area.
The daily chart of the Dow Industrials shows a well defined trading channel with the upper boundary now in the 12, 400 area.
The Spyder Gold Trust ( GLD) hit the upper boundary of its trading channel on Monday (line b) before reversing to close lower.
Chart Analysis : The close Thursday pushed the NYSE Composite above the highs from early in the year, as prices closed above the upper boundary of the daily trading channel.
The weekly trading channel goes back to 2011, with the upper boundary (line a) now at 9, 492.
The chart shows a well defined trading channel (lines a and b) with the upper trend line currently at 9, 063, which is 7.6% above current levels.
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The northeastern US will see dew points in the upper 70s, near record level highs, according to the Weather Channel.
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In 2003, Stanford University spin-out company Cooligy showed off its Active Micro-Channel Cooling (AMC) technology which allowed fluids to circulate through hundreds of tiny channels on the upper surface of a chip.
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