A two-day bullish reversal in the stock market but the Dow is at the top of its bullish trend channel

The stock market zoomed higher today, erasing the losses of the last two days. The indexes closed near their highs showing that there is very little selling pressure. The Dow has moved all the way up to the top of its bullish trend channel. This is a danger sign. Additionally, the money-blow indicator shows an over bought level.

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