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Channel still in play. Markets are overbought ST and we may see a initial retracement to the 5 MA this week. I expect one solid down day this week, the question will be if this is a one day move only or multiple day move. Market has been moving on very thin air and intraday buyers have been punished if they are holding. So there are anxious holders above 1,400 who will not kindly look on a move below 1,400, this may accelerate downside. As long as the channel is intact a move to 135 is certainly a possibility...