S&P: Pulling back but still within a bullish channel.

The index hit our previous target (2,670) making a slightly higher than expected Higher High at 2,677.75. This marginally extended the upper band of the 1D Channel Up (RSI = 59.375, MACD = 16.280, Highs/Lows = 32.7451), which remains overbought on STOCH and Williams. It is natural to expect a technical pull back either to touch the median (2,640) or to pric a Higher Low (2,620 - 2,597). We will be using those two spots as long entries and target (TP) 2,690. Technically the Channel Up should make a new Higher High above 2,720.






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