S&P weak all night and can't break the dark red (brown) down trend channel. There is still a little room for it to reach that 2009 resistance trend line. However, the resistance trend line from ATH and recent top are containing it. Will it just let loose and drop today or will it fight for that last push until next week? No matter what, this things looks like it is going down next week IMO.
This is how I came up with those trading channels.
Close up
Hope it helps and good luck.
This is how I came up with those trading channels.
Close up
Hope it helps and good luck.
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One last touch?
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Is this a new down channel?
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End of day. I am not sure what we are left with. A new channel is clearly visible, but when it reached the edge of the up channel at the end of the day it rallied. I think it is obvious, but Monday morning is going to tell us which direction.
