Direxion DailyTechnology Bull (TYH)

[maybe_this_time]

Tried to put together some various stuff I've been looking at in my own charts and here is a weekly chart of the NAS



We closed above the last major tops of the past 4 years and it looks 2700 is a possibility.

Looking at the daily chart



We're at the top of our current channel. All the indicators are off the charts. Maybe we'll see a short term pull back. There was an inverse head and shoulders that John Murphy pointed out as a bullish indicator, which I didn't respect... He says the ultimate move up above the old resistance could be the hieght of the inverse head. This is 300 points and takes us up to 2650.

What all this tells me there is a possible move higher from here. But I also see strong pontential for a pullback of some kind right now based on the current channel. It may take a little longer before the next real leg down...

If I don't see red Monday afternoon may close my current short positions.