Sooooooo……..I thought all those trllions of dollars that Bernanke sent us into debt for were to keep interest rates low? Looks like the trend is reversing pretty hard. Well, don't worry. I'm sure higher interest rates won't be a problem, given the $16 trillion in debt that we owe. Oh, wait a second…..
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The gentle rising channel I was looking at yesterday on the ES 60min chart is still holding this morning, with channel support and resistance in the 1460.5 and 1481.5 areas respectively. ES is making marginal new highs and lows and I won't be looking for significant downside unless ES either gets near to channel resistance or breaks channel support: