ORIGINAL POST: 9:00 AM
There comes a time in the construction of every channel when the market either obeys a presumed channel boundary, morphs it into something else or breaks it entirely.
We’ve had a very well-behaved channel off the 1266 bottom on June 4. I’ve had to make small adjustments to the channel on the daily chart a few times. But, the 60-min chart shows just how precisely yesterday’s low fits with the previous lows.
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