The key trendline from last year re-asserts itself in the S&P

We made a lot of money trading this trendline last year, especially in April - October. Swing trading becomes easier when we identify the market's predominant price strucuture.

And now it looks like the predominant trendline from last year is back in action, giving us a swing high today (today the S&P Futures closed with a Key Reversal Candle, which is a bearish engulfing candle that happens at the current highest price in an uptrend).

If last year's big trendline is asserting itself again, it is likely to form into a parallel channel like it did last year. The bottom rail of that channel is shown on the chart above.