[/caption] Watching the 3rd attempt on the bullish Channel. If we don't break through to retest at 1100 area would be looking for this to close as a hammer on the daily. There is not much volume commitment on this move down and the bulls are pushing this back up quite easily. Watch for the 1118.75 resistance, if they can' t get above this level we could see a continuation down. This 20 point range we have been bouncing around in try to get direction has been indicative of past August sessions where we have lower volume and stay rang bound until the Market Makers get back from Vacation. Watch for the news today on FOMC, could get some volatility. The Point of Control is 1125.25, if we move above here we have some room to 1133.75 then on to fill the open gap at 1156. S&P 500 day trading course
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