How To Read Channels

Alts & fork % channels

240min Globex....

 

bigger picture....I think the lower part of the channel will probably hit lower than my highlights, but just a educated guess....seems some support in the 705-710 area

 

close??? 3 points?

 

just a naked chart with the range on it
price itself is the most important 'indicator' and yet the most overlooked
simple , clean, and highly effective

 

the hourly to filter out the 3 monthly

 

.....unconfirmed .... hourly globex.....

 

sorry for my crappy chart, at work and no access to strategy desk charts (blah blah i know ameritrade)....I see a downward channel since the start of the year in the orange channel lines.....but seems we have started an about equal distance channel down from the lower orange line possibly? will see if the red mid line on the orange channel holds on the blue channel up. look at the chart it makes more sense than my ramblings.

 

....approaching top wall....
... with that 708--748 range

 

upper wall stopped it

 

5 min spy