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Emini S&P Channel Magic Still In Force July 6, 2015
Mid-day Update: Have not posted the channel chart for a while since last week we were dealing with clash of the bulls and bears on higher timeframes.
Last time I posted the channel chart was on Jun 24, 2015 and correctly predicted the drop back down to the lower parking zone. Here is the chart again in bird’s eye view. Notice how today started from the bottom of the channel and moved back up to the channel mid.
Now look at the close up.
If Emini S&P cannot clear 2070 on daily closing basis, a retest of the channel bottom and potential break of the channel is in play.
Once 2070 turning into support, we will likely get another attempt at the channel top.
For the record, what I posted this morning in real-time commentary for my premium members only:
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