I posted the chart below on twitter last night to show that the channel support that I posted as a target on Monday morning was tested at the close. I was concerned by that test being on the low ticks of the day, and we’ll have to see whether that holds this morning. On my main scenario we see a strong bounce from that support into new highs, very possibly this week. If we were to see a hard break down then I’d be looking for a very possible gap under channel support at the open today and at the moment at least, that seems unlikely. SPX 5min chart:
