Here I draw the periods from 2014 to today. The uptrend channel
dissociates from the previous period box - valid channel. We have clearly reach the point of the buying zone. Notice there is no support below the channel. Possible to go below the channel? Of course!!! However, this is where fundamentals come in to help us with the technical analysis
. The low cost of excellent stocks to own at this point (going lower then the channel) create fantastic opportunities for companies to buy back their own stocks, for companies to be acquired by other companies, and us to buy as well. Also if you have ever read a mutual fund brochure, most fund ARE REQUIRED to be invested by a certain percentage of time and money. In other words , fund managers ARE required to be invested and they can be in the sidelines for only so long. No manager gets paid to be sitting in cash!!!
Good luck to all of you out there folks!!!