morning charts

10 day chart This trend line should be violated then in a bullish trend we bounce back to the 12800/1400 level and retest.

OR

THAT MOVE TWARD 1400 FAILS AND WE HAVE A NEW DOWNTREND CONFIRMED.

3 day chart

Shows a rough trade channel, an a couple support resistance lines.

Caution... it would be normal that to get past the resistance at 1400 we have to bounce at it a few times.... and to pull back to some downside support then do a final violation of the trend.

Bearish is that we had a significant wedge formation, that indicates a reversal.

If we end the day down, based on our futures... That will be a confirmation of the downtrend.

If we end above 12725... Uptrend probably continues.... if at any time during the day we get above 12725... it neutralizes the downtrend.

I'll look for a good up-move for an exit for some of my long positions.

2 day micro chart

A little downside support in blue... and the possible developing downtrend trade channel.

(you can also draw a trade channel using the blue)

Today is going to take much more coffee....