Although the Emini is still forming higher highs and lows on the weekly chart, it is in a bear channel on the daily chart. It is therefore in an early bear trend, but it still might have one more new high before it sells off to the bottom of the weekly channel.
AAPL is probably sideways to down for next year and will likely test bottom of monthly channel within a year. Since it is the most important market leader, this will should limit any upside in the S&P.
