Charts I’m Watching: Jan 29, 2014

USDJPY and ES have retraced .886 of yesterday’s ramp.  Bulls need these levels to hold, as both are nearing channel support.

But, watch out for SPX’s SMA 100 down at 1766.89.  A new low there, and the ES to the larger scale .886 at 1764.55 could unravel things as stops are triggered.

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