We now have a clear break down into the lower channel. I am thinking that even if the day ends up being a turn date as some have suggested upside may be limited. The centre channel line may now become resistance and upside may end up being no more than 150 points max before heading for the channel bottom.
Such a rally fits nicely into my personal plans for the market as we need to burn some time so we don't get to the bottom of the channel before march 17/18.
Your cooperation in this matter would be greatly appreciated.
friday range, page-89
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