Will the US markets hold long enough?

Another day and the same story. The market were up 100 points at one time before closing in the red. The falling trendline is still acting as resistance. The Indices are now trading between the 20EMA and the 50EMA. Will these 2 create a channel for volatility compression? Our bearish stance on US markets continues.



India:
The question is - Will the US markets hold enough long enough for the mega IPOs to list? Yesterday, interestingly, we managed to move slightly above the falling channel before settling back below it. Our stand continues - watch whether 14300 holds OR we cross the falling channel convincingly. Our preferred view is that we will take support around 14300 - 14400 and cross the falling channel. However if the market lets us know otherwise, we will have to change.

Buzzword: Watch 14300.