Dow Composite Channel

 | Sep 01, 2016 03:21PM ET

It may surprise you to know that the Dow Jones Composite peaked about six weeks ago, particularly since lifetime highs on other major indexes were the norm until just a few days ago. This is a crucial junction, since we’ve traveled back to the channel that used to be its confinement until it broke out early in July. A big drop Friday (unemployment report day) would finally turn things clearly bearish.