If it were not for the weak close on the weekly chart, I might be a buyer here. But I kinda think market may still make a more concerted effort to force longs out by dropping below channel and down to the 61.8% retracement (which is also the weekly 50-PMA). If we fall to this area and close next week on strength, that would be good short term buying opportunity, IMO .
Traded opposite way I expected. But, I am glad to see lower channel hold. Should be interesting to see if it breaks upper channel.