Channel Guy Trader: Stock Market Technical Analysis for Ending Day 09/30/09

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I'm sorry I forgot to show the key levels on the intraday spy 15 min chart that you should watch for the morning session. I also forgot to show you guys how the daily channels were setting up on the SPX. I will have these two pictures posted on the blog site @ askchrishetrades.blogspot.com. One thing I want to bring to you traders attention, is that we held above the 50% like of the downward channel. We are still above the fast line from the push we got the other day. So either way we are at a key area tomorrow for a push higher or a definite break back to the lower channel. That key level to watch is exactly where we closed at so you can expect a gap up or gap down in the morning and a good movement from there. If we break that level I say 1045 Mondays low is the next support level. Enjoy!!

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