First, the late Friday rally did manage to break the large-cap index back out above the downward sloping trading channel that has dominated the month, but only barely. Moreover, stocks quickly encountered heavy resistance at around 3PM at a shorter-term and much steeper downward sloping trading channel that has formed since the market peak on September 19. In short, it was a good bounce on Friday, but U.S. large-cap stocks still have a long way to go before they are even remotely in the clear to stage the next advance to new highs. For the rest of the U.S. stock...