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While three of the four E-mini Futures Indices have broken below the bottom of
their uptrending channel, which began in June of this year, the
TF is still (just) holding within, as shown on the
Daily charts below…the one to watch for signs of increasing
weakness over the next few days.
Obviously there was no bounce of substance yesterday despite the very promising setup in the morning. SPX closed up on the day however just above the lower bollinger band. If that continues today into a strong bounce then the obvious targets are the 50 DMA at 1435 and the middle bollinger band slightly higher:
